<SEC-DOCUMENT>0001513162-15-000658.txt : 20151223
<SEC-HEADER>0001513162-15-000658.hdr.sgml : 20151223
<ACCEPTANCE-DATETIME>20151222173748
ACCESSION NUMBER:		0001513162-15-000658
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		76
CONFORMED PERIOD OF REPORT:	20151031
FILED AS OF DATE:		20151223
DATE AS OF CHANGE:		20151222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITUS Corp
		CENTRAL INDEX KEY:			0000715446
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				112622630
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37492
		FILM NUMBER:		151303741

	BUSINESS ADDRESS:	
		STREET 1:		12100 WILSHIRE BOULEVARD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025
		BUSINESS PHONE:		31044845200

	MAIL ADDRESS:	
		STREET 1:		12100 WILSHIRE BOULEVARD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COPYTELE INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>itus10k.htm
<DESCRIPTION>FORM 10-K
<TEXT>
<HTML>
<head><title>FORM 10K</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:'Times New Roman'; COLOR:#000000; MARGIN-TOP:0px"> <p style=MARGIN:0px><br></p> <table width=915  style="FONT-SIZE:10pt; WIDTH:915px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td> <td width=17> <td width=316 /> </tr><tr> <td colspan=3 style="BORDER-TOP:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:3px" align=center><b>UNITED STATES </b></p> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:3px" align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p> <p style=MARGIN:0px align=center><b>WASHINGTON, D.C. 20549</b></p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:4px; FONT-SIZE:14pt; MARGIN-TOP:8px" align=center><b>FORM 10-K</b></p></td></tr> <tr> <td height=1 colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px"><br></p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:-1pt; FONT-SIZE:1pt; MARGIN-TOP:3px" /> <p style="MARGIN-BOTTOM:-2px; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">[x]</p> <p style="MARGIN-BOTTOM:3px; PADDING-LEFT:48px; MARGIN-TOP:0px; TEXT-INDENT:-2px">ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 31, 2015</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:3px" align=center>or</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:-1pt; FONT-SIZE:1pt; MARGIN-TOP:3px" /> <p style="MARGIN-BOTTOM:-2px; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">[ ]</p> <p style="MARGIN-BOTTOM:3px; PADDING-LEFT:48px; MARGIN-TOP:0px; TEXT-INDENT:-2px">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>Commission file number: &nbsp;0-11254</p></td></tr> <tr> <td colspan=3 style="BORDER-TOP:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:5px; FONT-SIZE:19pt; MARGIN-TOP:7px" align=center><b>ITUS CORPORATION</b></p></td></tr> <tr> <td height=28 colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:3px" align=center>(Exact Name of Registrant as Specified in its Charter)</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center><b>Delaware</b></p></td> <td width=17 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p></td> <td width=316 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center><b>11-2622630</b></p></td></tr> <tr> <td height=18 style="BORDER-TOP:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:0px" align=center>&nbsp;(State or Other Jurisdiction of Incorporation or Organization)</p></td> <td width=17 height=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p></td> <td width=316 height=18 style="BORDER-TOP:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:0px" align=center>(I.R.S. Employer Identification No.)</p></td></tr> <tr> <td colspan=3 style="BORDER-TOP:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center><b>12100 Wilshire Boulevard, Suite 1275</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><b>Los Angeles, CA 90025</b></p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center><b>(310) 484-5200</b></p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:3px" align=center>(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Principal Executive Offices)</p> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:4px" align=center><br></p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>Securities registered pursuant to Section 12(b) of the Act:</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>Common Stock, $.01 par value</b></p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>Securities registered pursuant to Section 12(g) of the Act:</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>None</b></p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px"><br></p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:3px">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. &nbsp;Yes [_] &nbsp;No [x]</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:3px">Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes [_] &nbsp;No [x]</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:3px">Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. &nbsp;&nbsp;&nbsp;Yes &nbsp;[x] &nbsp;&nbsp;No &nbsp;[_]</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:3px">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). &nbsp;Yes [x] &nbsp;No [_]</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:3px">Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (&#167;229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. &nbsp;[ &nbsp;]</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:3px">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>large accelerated filer,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>accelerated filer<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> and <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>smaller reporting company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> in Rule 12b-2 of the Exchange Act.</p> <p style="MARGIN-BOTTOM:-1pt; FONT-SIZE:1pt; MARGIN-TOP:3px" /> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:9pt; WIDTH:432px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:48px">Large accelerated filer [__]</p> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:0px; TEXT-INDENT:-2px">Accelerated filer &nbsp;[__]</p> <p style="MARGIN-BOTTOM:-1pt; FONT-SIZE:1pt; MARGIN-TOP:3px" /> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:9pt; WIDTH:432px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:48px">Non-accelerated filer &nbsp;[__] (Do not check if a smaller reporting company)</p> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:0px; TEXT-INDENT:-2px">Smaller reporting company &nbsp;[x]</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:3px">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). &nbsp;Yes [_] &nbsp;No [x]</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:3px">Aggregate market value of the voting stock (which consists solely of shares of common stock) held by non-affiliates of the registrant as of April 30, 2015 (the last business day of the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s most recently completed second fiscal quarter), computed by reference to the closing sale price of the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock on the OTCQB on such date ($3.00 ): $23,589,150</p></td></tr> <tr> <td colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:3px">On December 17, 2015, the registrant had outstanding 8,724,878 shares of common stock, par value $.01 per share, which is the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s only class of common stock. </p></td></tr> <tr> <td colspan=3 style="BORDER-TOP:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:0px" align=center>DOCUMENTS INCORPORATED BY REFERENCE: &nbsp; </p> <p style="MARGIN-BOTTOM:2px; FONT-SIZE:9pt; MARGIN-TOP:0px" align=center>NONE &nbsp;&nbsp;&nbsp;&nbsp; </p></td></tr></table> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center><b>TABLE OF CONTENTS</b></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=54> <td width=18> <td width=540> <td width=18> <td width=18> <td width=18 /> </tr><tr> <td width=54 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=576 colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style="FONT-SIZE:8pt; MARGIN:0px; TEXT-INDENT:3px" align=justify><b><u>Page</u></b></p></td></tr> <tr> <td width=612 colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=center><b>PART I</b></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=17 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=54 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px><br></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=justify><br></p></td> <td width=17 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify>Item 1.</p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Business</p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>2</p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify>Item 1A.</p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Risk Factors</p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>6</p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify>Item 1B.</p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style="MARGIN:0px; TEXT-INDENT:-2px">Unresolved Staff Comments </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>18 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify>Item 2. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style="MARGIN-BOTTOM:-2px; FLOAT:left; MARGIN-TOP:0px"> <p style="MARGIN:0px; TEXT-INDENT:-2px">Properties. </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>18 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify>Item 3. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style="MARGIN-BOTTOM:-2px; FLOAT:left; MARGIN-TOP:0px"> <p style="MARGIN:0px; TEXT-INDENT:-2px">Legal Proceedings</p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>18 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify>Item 4. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style="MARGIN-BOTTOM:-2px; FLOAT:left; MARGIN-TOP:0px"> <p style="MARGIN:0px; TEXT-INDENT:-2px"><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Mine Safety Disclosures</font> </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>18 </p></td></tr> <tr> <td width=630 colspan=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=center><br></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right><br></p></td></tr> <tr> <td width=630 colspan=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=center><b>PART II </b></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right><br></p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px><br></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 5. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>18 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 6. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Selected Financial Data </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>19 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 7. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Management<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Discussion and Analysis of Financial Condition and Results of Operations. </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>20 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 7A. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Quantitative and Qualitative Disclosures about Market Risk</p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>27 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 8. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Financial Statements and Supplementary Data </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right>27 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 9. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Changes in and Disagreements With Accountants on Accounting and Financial Disclosure </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right>27 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 9A. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Controls and Procedures </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right>27 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 9B. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Other Information </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right>28 </p></td></tr> <tr> <td width=630 colspan=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=center><br></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right><br></p></td></tr> <tr> <td width=630 colspan=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=center><br></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right><br></p></td></tr> <tr> <td width=630 colspan=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=center><b>PART III </b></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right><br></p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 10. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Directors, Executive Officers and Corporate Governance </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>28 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 11. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Executive Compensation </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>34 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 12. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>42 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 13. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Certain Relationships and Related Transactions, and Director Independence </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>46 </p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Item 14. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Principal Accounting Fees and Services </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right>47 </p></td></tr> <tr> <td width=630 colspan=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=center><br></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right><br></p></td></tr> <tr> <td width=630 colspan=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=center><b>PART IV </b></p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=right><br></p></td></tr> <tr> <td width=72 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px align=justify>Item 15. </p></td> <td width=558 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=top> <p style=MARGIN:0px>Exhibits, Financial Statement Schedules </p></td> <td width=36 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:3px; MARGIN-TOP:0px; PADDING-RIGHT:3px" valign=bottom> <p style=MARGIN:0px align=right>48&nbsp;</p></td></tr></table> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=center><br><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>1</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><u>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING </u></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><u>STATEMENTS</u></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><i>Information included in this Annual Report on Form 10-K (this <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Report<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Securities Act<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), and Section 21E of the Securities Exchange Act of 1934, as amended (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Exchange Act<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;Forward-looking statements are not statements of historical facts, but rather reflect our current expectations concerning future events and results. &nbsp;We generally use the words <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>believes,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>expects,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>intends,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>plans,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>anticipates,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>likely,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>will<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> and similar expressions to identify forward-looking statements. &nbsp;Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. &nbsp;&nbsp;These risks, uncertainties and factors include, but are not limited to, those factors set forth in this Report under <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Item 1A. <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Risk Factors<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> below. &nbsp;Except as required by applicable law, including the securities laws of the United States, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. &nbsp;You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this Report.</i></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><u>CERTAIN TERMS USED IN THIS REPORT</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>References in this Report to <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>we,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>us,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>our,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> or <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ITUS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> means ITUS Corporation unless otherwise indicated. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center><b>PART I</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=left><b>Item 1. &nbsp;<u>Business.</u> &nbsp;&nbsp;&nbsp;&nbsp;</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u>Overview</u> &nbsp;&nbsp;&nbsp;&nbsp;</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We were incorporated on November 5, 1982 under the laws of the State of Delaware. &nbsp;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. &nbsp;In October of 2012 under the leadership of a new management team, the Company undertook a transformation process to recapitalize the Company, unencumber the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s assets, seek reparations from a previous joint development partner, change the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s name and ticker symbol, relocate the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s headquarters and modernize its systems, and monetize patented technologies developed by the Company, or acquired from third parties. In July of 2015, the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s stock was accepted for listing and began trading on the NASDAQ Capital Market. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In June of 2015, the Company announced the formation of a new subsidiary, Anixa Diagnostics Corporation (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, Anixa entered into a collaborative research agreement with The Wistar Institute (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Wistar<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), the nation<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s first independent biomedical <br><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>2</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by Anixa and associated with solid tumors. In October of 2015, Anixa and Wistar announced very favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by Anixa, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted. &nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Based upon and following the results of the more extensive clinical study, Anixa will determine what further studies are necessary and whether and when to begin the process of seeking regulatory approval for a cancer screening test or tests utilizing Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s technology. One manner of seeking regulatory approval is to have a lab certified to run the Anixa cancer screening tests pursuant to the Clinical Laboratory Improvement Act of 1988 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>CLIA<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). Among other things, CLIA requires clinical laboratories that perform diagnostic testing to be certified by the state in which the lab is located, as well as the Center for Medicare and Medicaid Services. If Anixa seeks regulatory approval pursuant to CLIA, only those laboratories that are certified under CLIA to run the Anixa diagnostic test would be able to process test samples. CLIA certification may or may not require additional studies. Anixa could seek to establish its own CLIA certified laboratory to run the diagnostic tests, or Anixa could potentially contract with an existing CLIA certified lab, and seek to have that laboratory certified to run the Anixa diagnostic test.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Another manner of obtaining regulatory approval would be to seek to have an Anixa diagnostic test or tests approved by The Food and Drug Administration (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>FDA<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) pursuant to what are commonly referred to as either the 510(K) process, or the Premarket Application (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>PMA<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) process. The appropriate pathway for FDA approval would depend upon a variety of factors, including the intended use of the test, and the risks associated with such use. FDA approval can take several years and would entail additional clinical studies. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The decision of whether and when to seek CLIA certification or FDA approval of a diagnostic test or tests utilizing Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s technology will be dependent on a variety of factors, including the results from Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s more extensive clinical study, the capital requirements of each approval process, the landscape for competitive diagnostic testing, and the time and resources required by each approval process. It is possible that Anixa may seek to have one or more&nbsp;diagnostic tests approved via CLIA certification, and other diagnostic test or tests approved by the FDA, or that Anixa may seek simultaneous approval of a particular diagnostic test or tests.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Over the next several quarters, we expect Anixa to be the primary focus of the Company. As part of our legacy operations, the Company has outsourced a small development project in connection with one of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s thin-film display technologies, and through certain of its subsidiary companies, the Company remains engaged in limited patent licensing activities in the areas of encryption and advanced materials. &nbsp;We do not expect these activities to be a significant part of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ongoing operations.</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Over the past several quarters, our revenue has been derived from technology licensing and the sale of patented technologies, including in connection with the settlement of litigation. In </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>3</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>addition to Anixa, the Company expects to make investments in and form new companies to develop additional emerging technologies.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b>AU Optronics Lawsuit and Settlement</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>On December 29, 2014, the Company and AU Optronics Corporation (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) entered into a Settlement Agreement, and a Patent Assignment Agreement, resolving a lawsuit filed by the Company against AUO in connection with the joint development and commercialization of two of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s thin-film display technologies. The Company received an aggregate of $9,000,000 from AUO, and transferred certain patents to AUO as part of the settlement. </font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b>Competition </b></font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b><u>Background</u></b></font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Continuing scientific advances and discoveries, the ability to more quickly process and analyze large amounts of scientific data, and decreases in the cost of sophisticated equipment and technologies, have resulted in the potential for significant advances in cancer treatment, and in particular, cancer diagnostics. Cancer statistics gathered over the past several decades provide overwhelming evidence that the earlier that cancers are detected, the greater the survival rates. Up until now,&nbsp;doctors have primarily relied upon technologies such as imaging (x-rays, CT Scans, MRI<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s, PET Scans, Ultrasounds) and biopsies and other invasive procedures for cancer detection and cancer diagnoses. In many cases, these diagnostic procedures were performed after patients exhibited one or more symptoms of cancer, at which point the cancer may likely no longer be at an early stage. Existing diagnostic technologies such as imaging have gotten better, and invasive diagnostic procedures such as colonoscopies have become more accurate and less risky, and we expect these types of traditional diagnostic tools to continue to predominate the cancer diagnostic market for the foreseeable future. </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>However, we believe that with advancing medical knowledge, improvements in equipment and technologies, and reduction in costs of new technologies, our industry will create new types of cancer diagnostic testing that will outperform many of the traditional diagnostic tests, eliminate many of the negative consequences of existing diagnostic testing, and ultimately predominate the cancer diagnostic market. &nbsp;</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Anixa has identified a class of biomarkers that it believes are present in the blood of patients with tumor based cancers, and is perfecting a process and methodology for detecting those biomarkers. The goal is to create a platform that can be used to launch a series of simple and affordable blood tests that can be used to detect and monitor many of the most deadly forms of cancer, including lung cancer, breast cancer, ovarian cancer, colon cancer, pancreatic cancer, and others. It is unlikely that the Company will initially simultaneously launch tests for each of the cancers identified above, and that specific and individual cancer tests for both the cancer screening and cancer monitoring markets will be launched over time. </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Statistics from The American Cancer Society indicate that one out of every two males, and one out of every three females, will develop some form of cancer during their lifetimes. With approximately 200 million adults in the United States alone, we believe that the market for new, </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>4</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>non-invasive cancer diagnostic technologies and testing will be enormous, and that there will be sufficient demand to support many different technologies and tests. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><u>Cancer Diagnostic Technologies</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>If successful, we believe Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s cancer diagnostic testing will have several advantages over existing diagnostic technologies. For example, repeated exposure to radiation from x-ray technologies, such as mammograms, has become an increasing concern for the medical community, causing authorities to re-evaluate the recommended frequency of such x-ray based tests. &nbsp;Traditional biopsies are often impossible for some tumor based cancers depending on the location of the tumor, and are invasive, expensive, and painful enough to warrant only limited use for other tumor based cancers even when the tumor can be accessed. In addition, such biopsies are limited in their inability to detect the heterogeneity of many cancerous tumors, and the ongoing mutations that are often evident as the tumor progresses. False positives in existing testing such as the PSA test, result in otherwise healthy patients being misdiagnosed, and subject to unnecessary follow-on treatments and medical procedures. &nbsp;Patient inconvenience, risk of side effects from anesthesia, and risk of other complications result in low patient compliance with otherwise effective cancer screening tests such as the colonoscopy. &nbsp;These are just a few examples of the challenges with traditional tests that Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s technology seeks to eliminate. &nbsp;Such will be the foundation for the competitive advantages that Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s expects to have over existing diagnostic testing. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Many public and private companies have announced plans and ongoing research efforts to launch non-invasive cancer diagnostic tests, and tools that can be used for non-invasive cancer testing. These companies include well established, and successful biotech companies, start-ups, and companies of all sizes. &nbsp;Almost every bodily fluid, including blood, plasma, urine, saliva, and excrement, are being studied for biomarkers or indicators of one or more types of cancer. The term that has been used to describe the category of this type of non-invasive cancer diagnostic testing is <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Liquid Biopsy<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>. &nbsp;In general, most of these companies are focused on identifying and analyzing one of three types of biomarkers: circulating tumor cells (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>CTC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), circulating tumor DNA (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ctDNA<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), and Exosomes. Each of these types of biomarkers has their advantages and disadvantages, and we expect that tests incorporating these and other biomarkers will make their way into the cancer diagnostic marketplace.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Anixa believes that its diagnostic platform has the potential for at least three distinct advantages over the types of biomarker tests referred to above. First, it appears that the biomarkers that Anixa is using may be present in multiple types of tumor based cancers. As a result, our technology could become the basis of a diagnostic platform from which multiple tests could be launched for multiple types of solid tumor based cancers. &nbsp;Most biomarkers are associated with and useful for only one type or sub-type of cancer. Second, it appears that the biomarkers that Anixa is using may be present in both advanced, and early stages of cancers. Third, Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s potential methodology for detecting the biomarkers that Anixa is using is significantly less expensive than the technologies commonly used for tests based on CTC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s, ctDNA, and Exosomes.</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b>Employees</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>As of October 31, 2015, on a consolidated basis, we had six full-time employees.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>5</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b>Other</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We were incorporated on November 5, 1982 under the laws of the State of Delaware. &nbsp;From inception through the end of October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. &nbsp;Our current business model includes investing in and forming new companies to develop emerging technologies, including our Anixa Diagnostics Corporation, our cancer diagnostics subsidiary.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our principal executive offices are located at 12100 Wilshire Boulevard, Suite 1275, Los Angeles, California 90025, our telephone number is 310-484-5200 and our Internet website address is www.ITUScorp.com. &nbsp;We make available free of charge on or through our Internet website our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements on Schedule 14A, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after we electronically file such materials with, or furnish them to, the Securities and Exchange Commission (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>SEC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;Alternatively, you may also access our reports at the SEC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s website at www.sec.gov. You may also read and copy any document we file with the SEC at the SEC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s public reference room located at 100 F Street, NE, Washington, DC 20549, on official business days during the hours of 10:00 a.m. and 3:00 p.m. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference room. </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 1A.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b><u>Risk Factors.</u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our business involves a high degree of risk and uncertainty, including the following risks and uncertainties:</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><u>Risks Related to Our Financial Condition and Operations </u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>We have a history of losses and may incur additional losses in the future</i>.</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On a cumulative basis we have sustained substantial losses and negative cash flows from operations since our inception.&nbsp; As of October 31, 2015, our accumulated deficit was approximately $146,149,000. &nbsp;As of October 31, 2015, we had approximately $6,769,000 in cash and cash equivalents and short-term investments, and working capital of approximately $6,302,000. We incurred losses of approximately $1,379,000 in fiscal year 2015. We expect to incur material research and development expenses and to continue incurring significant legal and general and administrative expenses in connection with our operations. &nbsp;As a result, we anticipate that we will incur losses in the future. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>We may need additional funding in the future which may not be available on acceptable terms, or at all, and, if available, may result in dilution to our stockholders.</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Based on currently available information as of December 21, 2015, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to enable us to continue our business activities for at least 12 months.&nbsp; However, our projections of future cash needs and cash flows may differ from actual results. If current cash on hand, cash equivalents, short term investments and cash that may be generated from our business operations </font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>6</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p></font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>are insufficient to satisfy our liquidity requirements, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&nbsp; The sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in the downward adjustment of the exercise or conversion price of our outstanding securities. We can give no assurance that we will generate sufficient cash flows in the future to satisfy our liquidity requirements or sustain future operations, or that other sources of funding, such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&nbsp; If we cannot obtain such funding if needed or if we cannot sufficiently reduce operating expenses, we would need to curtail or cease some or all of our operations.&nbsp;</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b><i>If we encounter unforeseen difficulties with our business or operations in the future that require us to obtain additional working capital, and we cannot obtain additional working capital on favorable terms, or at all, our business will suffer</i></font><font style=BACKGROUND-COLOR:#ffffff>.</b></font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Our consolidated cash, cash equivalents and short-term investments on hand totaled approximately $6,769,000 and $5,861,000 at October 31, 2015 and 2014, respectively. &nbsp;To date, we have relied primarily upon cash from the public and private sale of equity and debt securities, as well as net proceeds from the December 2014 AUO settlement, to generate the working capital needed to finance our operations. </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Although we received an aggregate of $9,000,000 from a Settlement Agreement and Patent Assignment Agreement with AU Optronics Corporation, resolving a lawsuit by the Company, we may need substantial additional capital to continue to operate our business.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>We may encounter unforeseen difficulties with our business or operations in the future that may deplete our capital resources more rapidly than anticipated. &nbsp;As a result, we may be required to obtain additional working capital in the future through bank credit facilities, public or private debt or equity financings, or otherwise. &nbsp;Other than as disclosed in this Annual Report, we have not identified other sources for additional funding and cannot be certain that additional funding will be available on acceptable terms, or at all. &nbsp;If we are required to raise additional working capital in the future, such financing may be unavailable to us on favorable terms, if at all, or may be dilutive to our existing stockholders. &nbsp;If we fail to obtain additional working capital as and when needed, such failure could have a material adverse impact on our business, results of operations and financial condition. &nbsp;Furthermore, such lack of funds may inhibit our ability to respond to competitive pressures or unanticipated capital needs, or may force us to reduce operating expenses, which would significantly harm the business and development of operations.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b><i>Failure to effectively manage our potential growth could place strains on our managerial, operational and financial resources and could adversely affect our business and operating results</i></font><font style=BACKGROUND-COLOR:#ffffff>.</b></font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Our business strategy and potential growth may place a strain on managerial, operational and financial resources and systems. &nbsp;Although we may not grow as we expect, if we fail to manage our growth effectively or to develop and expand our managerial, operational and financial resources and systems, our business and financial results will be materially harmed.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>7</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><u>Risks Related to Anixa</u></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><font style=BACKGROUND-COLOR:#ffffff><b><i>Anixa</font><font style=BACKGROUND-COLOR:#ffffff> is a pre-revenue biotechnology company and is thus subject to the risks associated with new businesses in that industry.</i></b></font></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Since the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s primary focus for the foreseeable future will likely be on Anixa, shareholders should understand that Anixa is an early stage biotechnology company with no history of revenue-generating operations, and its only assets consist of certain intellectual property and know-how of its officers. Therefore, this subsidiary is, and expects for the foreseeable future to be, subject to all the risks and uncertainties inherent in a new business, in particular new businesses engaged in the early detection of certain cancers. Anixa still must establish and implement many important functions necessary to operate a business, including securing its intellectual property rights.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Accordingly, you should consider the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s prospects in light of the costs, uncertainties, delays and difficulties frequently encountered by companies in their pre-revenue generating stages, particularly those in the biotechnology field. Shareholders should carefully consider the risks and uncertainties that a new subsidiary with no operating history will face. In particular, shareholders should consider that there is a significant risk that Anixa will not be able to:</font></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px"><font style=BACKGROUND-COLOR:#ffffff>demonstrate the effectiveness of its tests:</font></p><font style=BACKGROUND-COLOR:#ffffff> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px">implement or execute </font><font style=BACKGROUND-COLOR:#ffffff>Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s</font><font style=BACKGROUND-COLOR:#ffffff> current business plan, or that </font><font style=BACKGROUND-COLOR:#ffffff>Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s</font><font style=BACKGROUND-COLOR:#ffffff> business plan is sound;</font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px"><font style=BACKGROUND-COLOR:#ffffff>raise sufficient funds in the capital markets or otherwise to fully effectuate </font><font style=BACKGROUND-COLOR:#ffffff>Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s</font><font style=BACKGROUND-COLOR:#ffffff> business plan;</font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px"><font style=BACKGROUND-COLOR:#ffffff>maintain its management team, including the members of its scientific advisory board;</font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px"><font style=BACKGROUND-COLOR:#ffffff>determine that the processes and technologies that </font><font style=BACKGROUND-COLOR:#ffffff>Anixa</font><font style=BACKGROUND-COLOR:#ffffff> has developed or will develop are commercially viable; and/or</font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px"><font style=BACKGROUND-COLOR:#ffffff>attract, enter into or maintain contracts with potential commercial partners such as licensors of technology and suppliers.</font></p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><font style=BACKGROUND-COLOR:#ffffff>If Anixa cannot execute any one of the foregoing, its business may fail and the Company will be adversely effected. In addition, we expect to encounter unforeseen expenses, difficulties, complications, delays and other known and unknown factors. Anixa will need to transition at some point from a company with a research and development focus to a company capable of supporting commercial activities. Anixa may not be able to reach such point of transaction or make such a transition, which would have a material adverse effect on our Company.</font></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><font style=BACKGROUND-COLOR:#ffffff><b><i>We may have difficulty in raising capital for </font><font style=BACKGROUND-COLOR:#ffffff>Anixa</font><font style=BACKGROUND-COLOR:#ffffff> and may consume resources faster than expected.</i></b></font></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:12pt; MARGIN-TOP:6px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Anixa currently does not generate any revenue from its diagnostic technology or otherwise and as of October 31, 2015, the Company only had $6,769,000 in cash. Therefore, we have a limited source of cash to meet Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s future capital requirements, which may include the expensive process of obtaining FDA approval for our technology for each type of cancer for </font></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:12pt; MARGIN-TOP:6px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>8</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p></font> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:12pt; MARGIN-TOP:6px" align=justify><font style=BACKGROUND-COLOR:#ffffff>which we desire to launch a diagnostic test. We do not expect Anixa to generate revenues for the foreseeable future, and we may not be able to raise funds for Anixa in the future, which would leave us without resources to continue Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s operations and force us to resort to the Company raising additional capital in the form of equity or debt financings, which may not be available to us. We may have difficulty raising needed capital in the near or longer term as a result of, among other factors, the very early stage of Anixa and Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s lack of revenues as well as the inherent business risks associated with Anixa and present and future market conditions. Also, Anixa may consume available resources more rapidly than currently anticipated, resulting in the need for additional funding sooner than anticipated. Our inability to raise funds for Anixa could lead to decreases in the price of our common stock and the failure of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s business which would have a material adverse effect on the Company.</font></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>While Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology has shown favorable results from initial testing, we cannot guarantee that these results will be replicated in future testing nor can we guarantee the success of the technology at all. </i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We have initially used Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology to test the blood of a small group of individuals consisting of breast cancer patients and healthy patients. While one hundred percent of the blood samples tested from the breast cancer patients showed the presence of the biomarkers identified by Anixa and none of the healthy patient blood samples contained the biomarkers, there is no guarantee that these results will be replicable when we test a larger group of patients or at all. If we are unable to replicate these results, or if we begin to see a high degree of false positives in future testing, Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology will not have any monetary value and we will be unable to generate any revenue from this product. </p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>Even if we are able to replicate the results from the initial testing of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology, our ability to commercialize Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s technology in the future will depend on our ability to provide evidence of clinical utility.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our ability to successfully commercialize Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology will depend on numerous factors, including whether health care providers believe that Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests provide sufficient incremental clinical utility; whether the medical community accepts that Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests have sufficient sensitivity (there are no or very few false positives), specificity (detects the cancer the test is supposed to detect) and predictive value to be meaningful in patient care and treatment decisions; whether the technology and the cost of a test is reasonably priced and commercially viable; and whether health insurers, government health programs and other third-party payers will cover and pay for Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests and the amount that they will reimburse for such tests. These factors may present obstacles to commercial acceptance of our diagnostic tests. &nbsp;To the extent these obstacles arise, we will need to devote substantial time and resources to overcome these obstacles, and we might not be successful. Failure to achieve widespread market acceptance of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests would materially harm our business, financial condition and results of operations. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We are unable to give any assurance that we will be successful in providing sufficient evidence of clinical utility or any assurance that we will have adequate managerial, technical or financial resources to support the studies necessary to provide sufficient evidence of clinical utility of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic testing or differentiate from other diagnostic products in the manner, </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>9</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>timeframe or cost parameters we anticipate, if at all. If we are unable to provide evidence of clinical utility and differentiate Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic testing, we will not be able to generate the revenues and market growth that we seek. Our failure to generate revenue from the sale of our products would materially adversely impact our business, financial condition, results of operations and prospects.</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>Diagnostic test development involves a lengthy and complex process, and we may be unable to commercialize on a timely basis, or at all, Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We have begun to devote considerable resources to research and development for Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology, however there can be no assurance that Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s technology will be capable of reliably predicting the occurrence or recurrence of any cancers with the sensitivity and specificity necessary to be clinically and commercially useful, or, even if such technology is clinically and commercially useful, that it will result in commercially successful products. In addition, before we can fully develop Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology and commercialize any new products, we will need to:</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:24px">&#183;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>conduct substantial research and development;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px">&#183;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>conduct validation studies;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px">&#183;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>expend significant funds;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px">&#183;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>enter into agreements and maintain relationships with third party vendors to provide third party blood samples;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px">&#183;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>obtain regulatory approval (either CLIA, FDA or both); and</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:48px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:24px">&#183;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>establish or contract with the owner of a CLIA certified laboratory to process test samples.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Accordingly, Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s product development process involves a high degree of risk and may take several years, especially if the Company seeks FDA approval for each of the diagnostic tests. If Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s biomarker technology should fail at the research or development stage, not produce sufficient clinical validation data to support the effectiveness of the product or not gain regulatory approval or if we should run out of cash to devote towards the commercialization of the technology or fail to establish agreements with necessary third party vendors, Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology will not make it to commercialization and we will not generate any revenue from the product.</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>If we fail to obtain, or if there are delays in obtaining, required regulatory approvals, we will not be able to commercialize Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology, and our ability to generate revenue and the viability of Anixa and our Company will be materially impaired.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Commercialization of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology will require that we obtain either CLIA certification, FDA approval or both. If we are unable to obtain regulatory approval for Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests, we will be unable to commercialize and generate revenue from the technology which would have a material adverse effect on our business, financial condition and results of operations. </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>10</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>Unless we obtain FDA approval for Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s biomarker testing, we will be dependent on laboratory contractors for testing of patient samples that are essential to the development and validation of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>To pursue the development and validation of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests, Anixa will require access to test results obtained from patient blood samples. Anixa has currently contracted with Wistar to provide these services. Unless and until Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s biomarker tests receive FDA approval, Anixa may elect to seek CLIA certification for one or more of its biomarker tests. Failure to receive FDA approval or CLIA certification would have a material adverse effect on our ability to develop and validate Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests. </p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>We will be dependent on third parties for the patient samples that are essential to the development and validation of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>To pursue our development and validation of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests, we are likely to need access, over time, to patient blood samples and such patients will need to consent to the use of their blood. We do not have direct access to a supply of patient samples. As a result, we have made arrangements with Wistar that has given us access to patient samples for the development and validation of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests. We may lose access to patient samples provided by third parties, or have that access limited, because the third parties decrease the number of patient samples they provide, due to changes in privacy laws governing the use and disclosure of medical information or due to changes in the laws restricting Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to obtain patient samples and associated information. If Anixa fails to secure and maintain an adequate supply of patient samples, Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to pursue its development efforts may be slowed or halted, which could have a material adverse effect on our business, financial condition and results of operations.</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s business could be harmed from the loss or suspension of a license or imposition of a fine or penalties under, or future changes in, or changing interpretations of, the law or regulations of the Clinical Laboratory Improvement Act of 1967, the Clinical Laboratory Improvement Amendments of 1988, or the FDA or other federal, state or local agencies.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The clinical laboratory testing industry is subject to extensive federal and state regulation, and many of these statutes and regulations have not been interpreted by the courts. The CLIA are federal regulatory standards that apply to virtually all clinical laboratories (regardless of the location, size or type of laboratory), including those operated by physicians in their offices, by requiring that they be certified under federal law. CLIA does not pre-empt state law, which in some cases may be more stringent than federal law and require additional personnel qualifications, quality control, record maintenance and proficiency testing. The sanction for failure to comply with CLIA and state requirements may be suspension, revocation or limitation of a laboratory<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s CLIA certificate, which is necessary to conduct business, as well as significant fines and/or criminal penalties. Several states have similar laws and we may be subject to similar penalties. The FDA regulates diagnostic products and periodically inspects and reviews their manufacturing processes and product performance. We may choose to seek FDA approval for Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s biomarker tests. We cannot assure that applicable statutes and regulations will not be interpreted or applied by a prosecutorial, regulatory or judicial authority in a manner that would adversely affect our business. Potential sanctions for violation of these statutes and regulations </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>11</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>include significant fines and the suspension or loss of various licenses, certificates and authorizations, which could have a material adverse effect on our business. In addition, compliance with future legislation could impose additional requirements on us, which may be costly, including FDA regulation of laboratory developed tests.</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>Health insurers and other third-party payers may decide not to reimburse Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic testing or may provide inadequate reimbursement, which could jeopardize our commercial prospects and require customers to pay for the tests out of pocket.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In the United States, the regulatory process that allows diagnostic tests to be marketed is independent of any coverage determinations made by third-party payers. For new diagnostic tests, private and government payers decide whether to cover the test, the reimbursement amount for a covered test and the specific conditions for reimbursement. Physicians may order diagnostic tests that are not reimbursed by third-party payers, but coverage determinations and reimbursement levels and conditions are critical to the commercial success of a diagnostic product. Each third-party payer makes its own decision about which tests it will cover and how much it will pay, although many payers will follow the lead of Medicare. As a result, the coverage determination process will be a time-consuming and costly process that requires us to provide scientific, clinical and economic support for the use of Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic testing to each payer separately, with no assurance that approval will be obtained. If third-party payers decide not to cover Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests or if they offer inadequate payment amounts, our ability to generate revenue from Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic tests could be limited since patients who want to take the diagnostic tests would have to pay for it out of pocket. Even if one or more third-party payers decide to reimburse for Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s tests, a third-party payer may stop or lower payment at any time, which could reduce revenue. We cannot predict whether third-party payers will cover Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s tests or offer adequate reimbursement. We also cannot predict the timing of such decisions. In addition, physicians or patients may decide not to order Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s tests if third-party payments are inadequate, especially if ordering the test could result in financial liability for the patient.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>Whether or not health insurers and other third-party payers decide to reimburse Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic testing, the technology may cost patients more than we anticipate.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We believe that Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s diagnostic technology will significantly reduce the cost to patients of screening for certain types of cancer. If, however, the cost to utilize Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s technology is more expensive than we anticipate, many patients and third-party payers may elect not to utilize the technology which would significantly impact our ability to generate revenue on the technology.</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>We operate in a competitive market and expect to face intense competition, often from companies with greater resources and experience than us.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The clinical diagnostics industry is highly competitive and subject to rapid change. We are aware of many different types of diagnostic tests available to detect cancer that are currently in use or being developed and many more types of diagnostic tests may be developed in the future. If we are able to successfully commercialize our diagnostic technology, all of these tests will compete with our product. If our diagnostic technology is more expensive than and/or does not have sufficient specificity, sensitivity or predictive value to compete with tests that are currently on the market, or if any other diagnostic tests that are under development, once </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>12</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>successfully developed and commercialized, have greater specificity, sensitivity or predictive value and/or are cheaper than our technology, we may be unable to compete successfully with such products which would have a material adverse effect on our business, financial condition and results of operations.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Furthermore, as the industry continues to expand and evolve, an increasing number of competitors and potential competitors may enter the market. Many of these competitors and potential competitors have substantially greater financial, technological, managerial and research and development resources and experience than we do. Some of these competitors and potential competitors have more experience than we do in the development of diagnostic products, including validation procedures and regulatory matters. In addition, our diagnostic tests will compete with product offerings from large and well established companies that have greater marketing and sales experience and capabilities than we do. If we are unable to compete successfully, we may be unable to sustain and grow our revenue.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><b><i>If we are unable to obtain and maintain intellectual property protection, Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s competitive position will be harmed.</i></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to compete and to achieve sustained profitability will be impacted by its ability to protect its proprietary discoveries and technologies, including its technology for detecting biomarkers. We expect to rely on a combination of patent protection, copyrights, trademarks, trade secrets, know-how, and regulatory approvals to protect Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s technologies. Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s intellectual property strategy is intended to help develop and maintain its competitive position. However, we cannot assure you that Anixa will be able to obtain patent protection for its methods of detecting biomarkers and processing its diagnostic tests, nor can we be certain that the steps we will have taken will prevent the misappropriation and unauthorized use of our technologies. If we are not able to obtain and maintain patent protection over Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s technologies, our competitive position will be harmed. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><b><i>We are dependent upon a few key personnel and the loss of their services could adversely affect us.</i></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>Our future success of developing our cancer diagnostics subsidiary will depend on the efforts of ITUS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Vice Chairman, and the Executive Chairman of Anixa, Dr. Amit Kumar. &nbsp;We do not maintain <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>key person<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> life insurance on Dr. Kumar. The loss of the services of Dr. Kumar could have a material adverse effect on our business and operating results. </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;<b><u>Risks Related to Patent Licensing Activities</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b><i>We may not be able to license our patent portfolios which may have an adverse impact on our future operations.</i></b></font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>We may generate revenues and related cash flows from the licensing and enforcement of patents that we currently own, from technologies that we develop and from the rights to license and enforce additional patents we have obtained, and may obtain in the future, from third parties. &nbsp;However, we can give no assurances that we will be able to identify opportunities to exploit such patents or that such opportunities, even if identified, will generate sufficient revenues to sustain future operations.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>13</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>We, in certain circumstances, rely on representations, warranties and opinions made by third parties that, if determined to be false or inaccurate, may expose us to certain material liabilities</i>.</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>From time to time, we may rely upon the opinions of purported experts.&nbsp;&nbsp;In certain instances, we may not have the opportunity to independently investigate and verify the facts upon which such opinions are made. By relying on these opinions, we may be exposed to liabilities in connection with the licensing and enforcement of certain patents and patent rights which could have a material adverse effect on our operating results and financial condition.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>In connection with patent licensing activities conducted by certain of our subsidiaries, a court that has ruled unfavorably against us may also impose sanctions or award attorney<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s fees, exposing us and our operating subsidiaries to certain material liabilities</i>.</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>In connection with any of our patent licensing activities, it is possible that a court that has ruled against us may also impose sanctions or award attorney<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s fees to defendants, exposing us or our operating subsidiaries to material liabilities, which could materially harm our operating results and our financial condition.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><b><i>Our patented technologies have an uncertain market value.</i></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>Many of our patents and technologies are in the early stages of adoption in the commercial and consumer markets. Demand for some of these technologies is untested and is subject to fluctuation based upon the rate at which our licensees will adopt our patents and technologies in their products and services.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><b><i>We may choose to further develop our patented technologies or invest in new patented technologies which are in need of development.</i></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Early stage technologies involve a high degree of risk, and the development of early stage technologies can be capital intensive. Should we decide to further develop our patented technologies, or invest in new patented technologies, we may not have the capital necessary to continually fund the development of the technologies, and the likelihood of achieving commercial success with any early stage technology is highly speculative.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><b><u>Risks Related to Our Common Stock</u></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><b><i>The availability of shares for sale in the future could reduce the market price of our common stock</i>.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>In the future, we may issue securities to raise cash for operations and acquisitions of patents and/or companies. &nbsp;We have and in the future may issue securities convertible into our common stock. Any of these events may dilute stockholders' ownership interests in our company and have an adverse impact on the price of our common stock.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>In addition, sales of a substantial amount of our common stock in the public market, or the perception that these sales may occur, could reduce the market price of our common stock. This could also impair our ability to raise additional capital through the sale of our securities.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>14</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>Any actual or anticipated sales of shares by our stockholders may cause the trading price of our common stock to decline. &nbsp;The sale of a substantial number of shares of our common stock by our stockholders, or anticipation of such sales, could make it more difficult for us to sell equity or equity-related securities in the future at a time and at a price that we might otherwise wish to effect sales. </p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><b><i>Delaware law and our charter documents contain provisions that could discourage or prevent a potential takeover of our company that might otherwise result in our stockholders receiving a premium over the market price of their shares</i>.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>Provisions of Delaware General Corporation Law (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>DGCL<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) and our certificate of incorporation, as amended (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Certificate of Incorporation<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) and by-laws (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>By-Laws<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) could make the acquisition of our company by means of a tender offer, proxy contest or otherwise, and the removal of incumbent officers and directors, more difficult. These provisions include:</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:144px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:120px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>Section 203 of the DGCL, which prohibits a merger with a 15%-or-greater stockholder, such as a party that has completed a successful tender offer, until three years after that party became a 15%-or-greater stockholder; </p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:144px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:120px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>The authorization in our Certificate of Incorporation of undesignated preferred stock, which could be issued without stockholder approval in a manner designed to prevent or discourage a takeover; and </p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:144px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:120px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>Provisions in our By-Laws regarding stockholders' rights to call a special meeting of stockholders limit such rights to stockholders holding together at least a majority of shares of the Company entitled to vote at the meeting, which could make it more difficult for stockholders to wage a proxy contest for control of our Board of Directors or to vote to repeal any of the anti-takeover provisions contained in our Certificate of Incorporation and By-Laws.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>Together, these provisions may make the removal of management more difficult and may discourage transactions that could otherwise involve payment of a premium over prevailing market prices for our common stock.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><b><i>We may fail to meet market expectations because of fluctuations in quarterly operating results, which could cause the price of our common stock to decline</i>.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>Our reported revenues and operating results have fluctuated in the past and may continue to fluctuate significantly from quarter to quarter in the future, specifically as we continue to devote more of our resources towards Anixa and our diagnostic technology. It is possible that in future periods, we will have no revenue or, in any event, revenues could fall below the expectations of securities analysts or investors, which could cause the market price of our common stock to decline. The following are among the factors that could cause our operating results to fluctuate significantly from period to period:</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>clinical trial results relating to our diagnostic technology;&nbsp;&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>15</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>progress with regulatory authorities towards the certification/approval of our diagnostic technology; </p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>commercialization of our diagnostic technology; and</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>costs related to acquisitions, alliances and licenses;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><b><i>Technology company stock prices are especially volatile, and this volatility may depress the price of our common stock</i>.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>The stock market has experienced significant price and volume fluctuations, and the market prices of technology companies have been highly volatile. We believe that various factors may cause the market price of our common stock to fluctuate, perhaps substantially, including, among others, the following:</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>announcements of developments in the cancer diagnostic testing industry;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>developments in relationships with third party vendors and laboratories;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>announcements of developments in our remaining patent enforcement actions;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>developments or disputes concerning our patents and other intellectual property;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>our or our competitors' technological innovations;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>variations in our quarterly operating results;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>our failure to meet or exceed securities analysts' expectations of our financial results;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>a change in financial estimates or securities analysts' recommendations;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>changes in management's or securities analysts' estimates of our financial performance;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>debt crises affecting several countries in the European Union and concerns about sovereign debt of the United States;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>announcements by us or our competitors of significant contracts, acquisitions, strategic partnerships, joint ventures, capital commitments, new technologies, or patents; and</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:72px">&#183;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>the timing of or our failure to complete significant transactions.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>In addition, we believe that fluctuations in our stock price during applicable periods can also be impacted by changes in governmental regulations in the diagnostic testing industry and/or court rulings and/or other developments in our remaining patent licensing and enforcement actions. For example, if government regulators no longer allow for the use of </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>16</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:0px" align=justify>diagnostic technology that has not been granted FDA approval (e.g. denying products that have only received CLIA certification), the time and cost to bring our technology to market will increase which will likely have an adverse impact on our stock price. </p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>In the past, companies that have experienced volatility in the market price of their stock have been the objects of securities class action litigation. If our common stock was the object of securities class action litigation, it could result in substantial costs and a diversion of management's attention and resources, which could materially harm our business and financial results.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>&nbsp;<b><i>Our common stock is currently listed on NASDAQ Capital Market, however if our common stock is delisted for any reason, it will become subject to the SEC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s penny stock rules which may make our shares more difficult to sell.</i></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>If our common stock is delisted from NASDAQ Capital Market, our common stock will then fit the definition of a penny stock and therefore would be subject to the rules adopted by the SEC regulating broker-dealer practices in connection with transactions in penny stocks. &nbsp;The SEC rules may have the effect of reducing trading activity in our common stock making it more difficult for investors to sell their shares. &nbsp;The SEC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s rules require a broker or dealer proposing to effect a transaction in a penny stock to deliver the customer a risk disclosure document that provides certain information prescribed by the SEC, including, but not limited to, the nature and level of risks in the penny stock market. &nbsp;The broker or dealer must also disclose the aggregate amount of any compensation received or receivable by him in connection with such transaction prior to consummating the transaction. &nbsp;In addition, the SEC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s rules also require a broker or dealer to make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s written agreement to the transaction before completion of the transaction. &nbsp;The existence of the SEC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s rules may result in a lower trading volume of our common stock and lower trading prices.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><b><i>We do not anticipate declaring any cash dividends on our common stock which may adversely impact the market price of our stock.</i></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>We have never declared or paid cash dividends on our common stock and do not plan to pay any cash dividends in the near future. Our current policy is to retain all funds and any earnings for use in the operation and expansion of our business. If we do not pay dividends, our stock may be less valuable to you because a return on your investment will only occur if our stock price appreciates.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><b><i>The securities issued in our private placements and registered direct offering may dilute your percentage ownership interest and may also result in downward pressure on the price of our common stock.</i></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In connection with our private placements in February 2011, January 2013 and November 2013 and our registered direct offering in July 2014, we have outstanding shares of preferred stock (following the conversion of the Debenture issued in November 2013) and warrants which are convertible into or exercisable for an aggregate of 1,768,889 shares of our common stock, at prices ranging from $4.465 to $10.00 per share. &nbsp;In addition, as we have registered these shares for resale by the holders, it is possible that a significant number of shares could be sold at the same time. &nbsp;Because the market for our common stock is thinly traded, the </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>17</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>sales and/or the perception that those sales may occur, could adversely affect the market price of our common stock. &nbsp;Furthermore, the mere existence of a significant number of shares of common stock issuable upon conversion of the preferred stock or the exercise of warrants may be perceived by the market as having a potential dilutive effect, which could lead to a decrease in the price of our common stock.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 1B.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b><u>Unresolved Staff Comments.</u></b></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:96px">None.</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 2.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b><u>Properties.</u></b></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify>We lease approximately 3,000 square feet of office space at 12100 Wilshire Boulevard, Los Angeles, California (our principal executive offices) from an unrelated party pursuant to a lease that expires March 30, 2016. &nbsp;Our base rent is approximately $9,000 per month and the lease provides an escalation clause for increases in certain operating costs.</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 3.</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px"><b><u>Legal Proceedings</u>.</b></p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On December 29, 2014, we settled our lawsuit against AU Optronics Corporation which had been filed on January 28, 2013. For a more detailed description of the settlement with AU Optronics, see the section above entitled <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AU Optronics Lawsuit and Settlement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Other than suits we bring to enforce our patent rights we are not a party to any material pending legal proceedings other than that which arise in the ordinary course of business. &nbsp;We believe that any liability that may ultimately result from the resolution of these matters will not, individually or in the aggregate, have a material adverse effect on our financial position or results of operations.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 4.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><b><u>Mine Safety Disclosures.</u></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:96px" align=justify>Not applicable.</p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><b>PART II</b></p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 5.</b></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px"><b><u>Market for the Registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.</u></b></p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u>Market Information </u></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Since July 2015, our common stock has traded on the NASDAQ Capital Market under the symbol <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ITUS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>. &nbsp;Prior to July 2015, our common stock traded on the OTCQB. The high and low sales prices as reported by the NASDAQ Capital Market and OTCBQ for each quarterly fiscal period during our fiscal years ended October 31, 2015 and 2014 is as follows (all sales prices below reflect our one-for-twenty-five reverse stock split which was effected in June 2015):&nbsp;&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>18</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=justify><br></p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=216> <td width=180> <td width=180 /> </tr><tr> <td width=216 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>Fiscal Period</p></td> <td width=180 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>High</p></td> <td width=180 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>Low</p></td></tr> <tr> <td width=216 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;4th quarter 2015</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;3rd quarter 2015</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>2nd quarter 2015</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;1st quarter 2015</p> <p style=MARGIN:0px align=center><br></p></td> <td width=180 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>$ 6.00</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>8.95</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>4.10</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>5.53</p> <p style=MARGIN:0px align=center><br></p></td> <td width=180 style="BORDER-RIGHT:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>$ 3.72</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>1.75</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>1.75</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>2.25</p> <p style=MARGIN:0px><br></p></td></tr> <tr> <td width=216 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>4th quarter 2014</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>3rd quarter 2014</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>2nd quarter 2014</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;1st quarter 2014</p> <p style=MARGIN:0px align=center><br></p></td> <td width=180 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>$ 6.75</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>10.00</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>10.00</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>12.00</p> <p style=MARGIN:0px align=center><br></p></td> <td width=180 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>$ 3.28</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>5.88</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>5.27</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>4.00</p> <p style=MARGIN:0px><br></p></td></tr></table> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u>Holders</u></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>As of December 17, 2015, the approximate number of record holders of our common stock was 1,009 and the closing price of our common stock was $2.49 per share.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u>Securities Authorized for Issuance Under Equity Compensation Plans </u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>See <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u>Dividend Policy </u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>No cash dividends have been paid on our common stock since our inception. &nbsp;We have no present intention to pay any cash dividends in the foreseeable future. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u>Recent Sales of Unregistered Securities </u></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>During the fiscal year ended October 31, 2015, the Company issued an aggregate of 11,600 shares of our common stock to various companies in payment of public relations and investor relations services. The common stock was issued in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act as they were issued to accredited investors, without a view to distribution, and were not issued through any general solicitation or advertisement. </p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px">&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>19</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px"><br></p> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px"><br></p> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px"><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 7.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN-TOP:0px; TEXT-INDENT:-2px"><strong><u>Management<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Discussion and Analysis of Financial Condition and&nbsp;</u></strong><strong><u>Results of Operations.</u></strong></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px"><b><u>General</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In reviewing Management<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Discussion and Analysis of Financial Condition and Results of Operations, you should refer to our Consolidated Financial Statements and the notes related thereto.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u>Results of Operations</u></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b>Fiscal Year ended October 31, 2015 compared with Fiscal Year ended October 31, 2014</b></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN-TOP:0px"><b><i>Revenue from Licensing Activities</i></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px">In fiscal year 2015, we recorded revenue from licensing activities of $255,000 from 6 license agreements. In fiscal year 2014, we recorded revenue from licensing activities of $2,480,000 from 27 license agreements. The license agreements provided for one-time, non-recurring, lump sum payments in exchange for non-exclusive retroactive and future licenses, and/or covenants not to sue. &nbsp;Accordingly, the earning process from these licenses was complete and 100% of the revenue was recognized upon execution of the license agreements. </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN-TOP:0px"><b><i>Display Technology Development and License Fees</i></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We did not record any display technology development and license fees during the fiscal year 2015. In fiscal year 2014, we recorded approximately $1,187,000 of display technology development and license fees revenue, representing the balance of the initial $3 million payment received from AUO Optronics Corporation (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) in fiscal year 2011, based on our assessment during fiscal 2014 that we have no further performance obligations under the license agreements with AUO. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN-TOP:0px"><b><i>Revenue from Settlement with AU Optronics Corporation</i></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Revenue from the settlement with AUO was $9,000,000 in fiscal year 2015, compared to $-0- in fiscal year 2014. &nbsp;On December 29, 2014, the Company and AUO entered into a Settlement Agreement (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO Settlement Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) and a Patent Assignment Agreement (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO Patent Assignment Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) pursuant to which the Company received an aggregate of $9,000,000 from AUO. &nbsp;The AUO Settlement Agreement and the AUO Patent Assignment Agreement were entered into to resolve a lawsuit filed by the Company against AUO in January of 2013, in connection with the joint development and commercialization of two of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s thin-film display technologies.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;&nbsp;<b><i>Inventor Royalties and Contingent Legal Fees</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Inventor royalties and contingent legal fees decreased by approximately $1,265,000 in fiscal year 2015, to approximately $148,000, from approximately $1,413,000 in fiscal year 2014. &nbsp;The decrease was due to the decrease in revenue from licensing activities. &nbsp;Inventor royalties and </p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>20</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>contingent legal fees are expensed in the period that the related revenues are recognized. &nbsp;The economic terms of patent agreements and contingent legal fee arrangements vary across the patent portfolios owned or controlled by the Company. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>Amortization of Patents</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Amortization of patents was approximately $325,000 in fiscal year 2015, compared to approximately $314,000 in fiscal year 2014. &nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>Litigation and Licensing Expenses</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Litigation and licensing expenses increased by approximately $2,926,000 to approximately $3,501,000 in fiscal year 2015, from approximately $575,000 in fiscal year 2014. Litigation and licensing expenses include approximately $3,298,000 and $306,000 of legal fees and litigation costs in fiscal years 2015 and 2014, respectively, related to the settlement with AUO.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN-TOP:0px"><b><i>Marketing, General and Administrative Expenses</i></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Marketing, general and administrative expenses decreased by approximately $183,000 to approximately $6,226,000 in fiscal year 2015, from approximately $6,409,000 in fiscal 2014. &nbsp;The decrease in marketing, general and administrative expenses was principally due to a decrease in consultant stock option expense of approximately $538,000, a decrease in employee compensation and related costs, other than stock option expense, of approximately $151,000, a decrease in investor relations and public relations expense of approximately $125,000, offset by an increase in legal and accounting fees of approximately $231,000, an increase in research and development expense of approximately $151,000, an increase in consulting and outside services expense other than stock option expenses of approximately $147,000 and non-recurring costs associated with former employees<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> severance arrangements of approximately $101,000.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>As of October 31, 2015, there was unrecognized compensation cost related to non-vested share-based compensation arrangements for stock options granted to employees and directors of approximately $432,000, which will be recognized in future periods upon vesting of the stock options. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>Loss on Extinguishment of Debt</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Loss on extinguishment of debt was $-0- in fiscal year 2015, compared to a loss of approximately $2,699,000 in fiscal year 2014. &nbsp;Loss on extinguishment of debt in fiscal year 2014 consisted of approximately $483,000 related to the conversion of $1,240,000 principal amount of Convertible Debentures due January 2015 into shares of our common stock and the prepayment of $200,000 principal amount of Convertible Debentures due January 2015, and approximately $2,216,000 related to the conversion of $3,500,000 principal amount of Convertible Debentures due November 2016 into shares of our common stock and preferred stock.<b><i> </i></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>21</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>Interest Expense</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Interest expense decreased by approximately $812,000 to approximately $452,000 in fiscal year 2015, from approximately $1,264,000 in fiscal 2014. &nbsp;Interest expense in fiscal year 2015 consisted of accreted interest on our patent acquisition obligation. &nbsp;Interest expense in fiscal year 2014 consisted of approximately $642,000 of amortization of debt discount and deferred financing costs on convertible debentures, approximately $386,000 of accreted interest on our patent acquisition obligation, approximately $174,000 of accrued interest on the Convertible Debenture due November 2016 and approximately $62,000 of common stock issued to pay interest on the Convertible Debentures due January 2016 and the Convertible Debentures due September 2016. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>Change in Fair Value of Derivative Liability</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The change in value of derivative liability was $-0- in fiscal year 2015 and a loss of approximately $593,000 in fiscal year 2014. The derivative liability was related to the Convertible Debentures due January 2015 and the Convertible Debentures due November 2016, and changed each reporting period based upon the market price of common stock and the time remaining to the maturity of the debentures. As of October 31, 2015 and 2014, the Company no longer has any convertible debentures.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>Dividend Income</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>There was no dividend income in fiscal year 2015. &nbsp;Dividend income of approximately $48,000 received in the fiscal year 2014 was related to the Videocon Industries Limited (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Videocon<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) global depository receipts (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>GDRs<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>).</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>Interest Income</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Interest income increased to approximately $18,000 in fiscal year 2015 compared to approximately $9,000 in fiscal year 2014, due to an increase in funds available for short-term investments.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u>Liquidity and Capital Resources</u></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Our primary sources of liquidity are cash, cash equivalents and short term investments.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Based on currently available information as of December 21, 2015, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to enable us to continue our business activities for at least 12 months.&nbsp; However, our projections of future cash needs and cash flows may differ from actual results. If current cash on hand, cash equivalents, short term investments and cash that may be generated from our business operations are insufficient to satisfy our liquidity requirements, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&nbsp; The sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in the downward adjustment of the exercise or conversion price of our outstanding securities. We can give no assurance that we will generate sufficient cash flows in the future to </font></p><font style=BACKGROUND-COLOR:#ffffff> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>22</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p></font> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>satisfy our liquidity requirements or sustain future operations, or that other sources of funding, such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&nbsp; If we cannot obtain such funding if needed or if we cannot sufficiently reduce operating expenses, we would need to curtail or cease some or all of our operations.&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>During the year ended October 31, 2015, cash provided by operating activities was approximately $1,363,000.&nbsp; Cash provided by investing activities was approximately $45,000, which resulted from the proceeds on maturity&nbsp;of certificates of deposit totaling $3,000,000 which was offset by the purchase of certificates of deposit totaling $2,900,000 and the purchase of property and equipment of approximately $55,000.&nbsp; Our cash used in financing activities was approximately $401,000, which resulted from approximately $445,000 for the repurchase of 92,232 shares of our common stock and the cancellation of warrants to purchase 16,000 shares of our common stock, offset by the proceeds from exercise of stock options of approximately $45,000. &nbsp;As a result, our cash, cash equivalents, and short-term investments at October 31, 2015 increased approximately $908,000 to approximately $6,769,000 from approximately $5,861,000 at the end of fiscal year 2014.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On December 29, 2014, the Company and AUO entered into the AUO Settlement Agreement&nbsp;and AUO Patent Assignment Agreement pursuant to which the Company received an aggregate of $9,000,000 from AUO. &nbsp;The AUO Settlement Agreement and the AUO Patent Assignment Agreement were entered into to resolve a lawsuit filed by the Company against AUO in January of 2013, in connection with the joint development and commercialization of two of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s thin-film display.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="PADDING-BOTTOM:0px; PADDING-LEFT:0px; MARGIN-TOP:0in; PADDING-RIGHT:0px; MARGIN-RIGHT:0in; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In October 2015, the &#147;Company entered into an At Market Issuance Sales Agreement (the &#147;Agreement&#148;) with National Securities Corporation (&#147;National&#148;) to create an at-the-market equity program under which it may sell up to $10,000,000 worth of its common stock (the &#147;Shares&#148;) from time to time through National, as sales agent. The Company has no obligation to sell any of the Shares, and may at any time suspend offers under the Agreement or terminate the Agreement. The Shares will be issued pursuant to the Company&#146;s previously filed registration statement that was declared effective by the SEC on September 18, 2015. As of October 31, 2015, no Shares have been sold under the Agreement.</font></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u>Off-Balance Sheet Arrangements</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We have no variable interest entities or other significant off-balance sheet obligation arrangements.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u>Critical Accounting Policies </u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>The Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America.&nbsp;&nbsp;In preparing these financial statements, we make assumptions, judgments and estimates that can have a significant impact on amounts reported in our consolidated financial statements. We base our assumptions, judgments and estimates on historical experience and various other factors that we believe to be reasonable under the&nbsp;circumstances. Actual results could differ materially from these estimates under different assumptions or conditions. On a regular basis, we evaluate our assumptions, judgments and estimates and make changes accordingly.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>We believe that, of the significant accounting policies discussed in Note&nbsp;2&nbsp;&nbsp;to our consolidated financial statements, the following accounting policies require our most difficult, subjective or complex judgments:</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="MARGIN-BOTTOM:13px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-24px" align=justify><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue Recognition;</p> <p style="MARGIN-BOTTOM:13px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-24px" align=justify><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-Based Compensation; and</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>23</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:13px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="MARGIN-BOTTOM:13px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-24px" align=justify><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible Instruments</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b>Revenue Recognition</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><u>Patent Licensing</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In certain instances, our past revenue arrangements have provided for the payment of contractually determined fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company.&nbsp;&nbsp;These arrangements typically include some combination of the following:&nbsp;&nbsp;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&nbsp;&nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&nbsp;&nbsp;Pursuant to the terms of these agreements, we have no further obligations. &nbsp;&nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><u>Display Technology Development and License Fees</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>We assessed the revenue guidance of Accounting Standards Codification (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) 605-25 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Multiple-Element Arrangements<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 605-25<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to determine whether&nbsp;multiple deliverables in our arrangements with AUO represent separate units of accounting.&nbsp; Under certain license agreements with AUO (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO License Agreements<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), we&nbsp;received initial development and&nbsp;license fees of $3 million, of aggregate development and license fees of up to $10 million.&nbsp; The additional $7 million in development and license fees were to be payable upon completion of certain conditions for the respective technologies.&nbsp; We determined that the transfer of the licensed patents and technology and the effort involved in completion of the conditions for the respective technologies represent a single unit of accounting for each technology.&nbsp; Accordingly, using a proportional performance method, during the third quarter of fiscal year 2011 we began recognizing the $3 million initial development and license fees over the estimated periods that we expected to complete the conditions for the respective&nbsp;technologies. Each of the license agreements also provided for the basis for royalty payments on future production, if any, by AUO to the Company, which we have determined represent separate units of accounting.&nbsp;&nbsp;We did not recognize any portion of the $7 million of additional development and license fees or any royalty income under the AUO License Agreements. </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>As a result of the lawsuit brought by the Company against AUO and E Ink Corporation in connection with the AUO License Agreements we did not record any display technology development and license fee revenue during the period from the fourth quarter of fiscal 2012 through the second quarter of fiscal year 2014 due to uncertainty as to our remaining performance obligations, if any. &nbsp;Based on our assessment performed for the third quarter of </font></p><font style=BACKGROUND-COLOR:#ffffff> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>24</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p></font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>fiscal 2014, we determined that we have no further performance obligations under the AUO License Agreements and accordingly we recognized display technology development and license fee revenue of approximately $1,187,000, representing the balance of the initial $3 million payment received from AUO.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>On December 29, 2014, we settled our lawsuit against AUO and received gross proceeds of $9 million which was recognized as revenue in the first quarter of fiscal 2015 (see Note 1 to the consolidated financial statements <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Business and Funding <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Description of Business - AUO Lawsuit and Settlement <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>).</font></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b>Stock-Based Compensation</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>We account for stock options granted to employees and directors using the accounting guidance in ASC 718.&nbsp; We recognize compensation expense for stock option awards over the requisite or implied service period of the grant.&nbsp; We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $2,192,000 and $2,128,000 during the years ended October 31, 2015 and 2014, respectively. &nbsp;We account for stock options granted to consultants using the accounting guidance under ASC 505-50.&nbsp; We recognized stock-based compensation expense for stock options granted to non-employee consultants during the years ended October 31, 2015 and 2014, of approximately $484,000 and&nbsp;$1,022,000, respectively. &nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Determining the appropriate fair value model and calculating the fair value of stock-based awards requires judgment, including estimating stock price volatility, forfeiture rates and expected term.&nbsp; If factors change and we employ different assumptions in the application of ASC 718 and ASC 505-50 in future periods, the compensation expense that we record may differ significantly from what we have recorded in the current period.&nbsp; See Note 2 to the consolidated financial statements for additional information.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>&nbsp;</font><font style=BACKGROUND-COLOR:#ffffff><b>Convertible Instruments</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>The Company accounts for hybrid contracts that feature conversion options in accordance with applicable generally accepted accounting principles (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>GAAP<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>).&nbsp; ASC &nbsp;815 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Derivatives and Hedging Activities,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 815<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b)&nbsp;the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c)&nbsp;a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>25</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company accounts for convertible instruments, when the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, in accordance with ASC 470-20 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Debt with Conversion and Other Options<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 470-20<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). Under ASC 470-20 the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company accounts for convertible instruments (when the Company has determined that the embedded conversion options should be bifurcated from their host instruments) in accordance with ASC 815.&nbsp;&nbsp;Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract are allocated to the fair value of the derivative. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px"><b><u>Effect of Recent Accounting Pronouncements</u></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-09<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), Revenue from Contracts with Customers. &nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &nbsp;The amendments for this standard update are effective for&nbsp;interim and annual&nbsp;reporting periods beginning after December 15,&nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In June 2014, the FASB issued Accounting Standards Update 2014-12 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-12<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), Compensation <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Stock Compensation. &nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In August 2014, the FASB issued Accounting Standards Update 2014-15 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-15<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;This amendment requires management to assess an entity<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In April 2015, the FASB issued Accounting Standards Update 2015-03 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2015-03<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. Adoption of this standard is required for </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>26</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:0px" align=justify>interim and annual periods beginning after December 15, 2015 and is to be applied retrospectively. We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In November 2015, the FASB issued Accounting Standards Update 2015-17 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2015-17<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 8.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b><u>Financial Statements and Supplementary Data.</u></b></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify>See accompanying <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Index to Consolidated Financial Statements.<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 9.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b><u>Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.</u></b></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify>None.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 9A. &nbsp;&nbsp;&nbsp;</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px"><b><u>Controls and Procedures</u></b></p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u>Disclosure Controls and Procedures</u></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We maintain disclosure controls and procedures, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. &nbsp;Under the supervision and with the participation of our management, including our President and Chief Executive Officer and our Chief Financial Officer and Vice President - Finance, we evaluated the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rule 13a-15 and 15d-15 of the Exchange Act. &nbsp;Based upon that evaluation, our President and Chief Executive Officer and the Chief Financial Officer and Vice President - Finance concluded that our disclosure controls and procedures were effective as of the end of fiscal year 2015.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><u>Management<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Report on Internal Control Over Financial Reporting</u></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our management is responsible for establishing and maintaining adequate internal control over financial reporting as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act. &nbsp;Our management, including the principal executive officer and principal financial officer, does not expect that our internal controls over financial reporting will prevent all errors and all fraud. &nbsp;A control system, no matter how well designed and operated, cannot provide full assurance that the objectives of the control system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected. &nbsp;Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>27</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>consolidated financial statements for external purposes in accordance with generally accepted accounting principles.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Under the supervision and with the participation of our management, including the principal executive officer and principal financial officer, we conducted an evaluation as to the effectiveness of our internal control over financial reporting as of October 31, 2015. &nbsp;In making this assessment, our management used the criteria for effective internal control set forth by the Committee of Sponsoring Organizations of the Treadway Commission in the <i>2013</i> <i>Internal Control <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Integrated Framework</i>. &nbsp;Based on this assessment, our management concluded that our internal control over financial reporting was effective as of October 31, 2015.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>This Annual Report on Form 10-K does not include an attestation report of our registered<u> </u>public accounting firm regarding internal control over financial reporting. &nbsp;Management<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s report was not subject to attestation by the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s independent registered public accounting firm pursuant to a permanent exemption of the Commission that permits the Company to provide only management<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s report in this Annual Report on Form 10-K. &nbsp;Accordingly, our management<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s assessment of the effectiveness of our internal control over financial reporting as of October 31, 2015 has not been audited by our auditors, Haskell &amp; White LLP. </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px"><b><u>Changes in Internal Control Over Financial Reporting</u></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>There were no changes in our internal control over financial reporting during the fourth quarter of fiscal year 2015 that has materially affected, or is reasonably likely to materially affect, the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting.</p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 9B.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b><u>Other Information.</u></b></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px">None.</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><b><u>PART III</u></b></p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 10.</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px"><b>Directors, Executive Officers and Corporate Governance</b>.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><b>(a)</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b>Our Directors and Executive Officers</b></p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table sets forth certain information with respect to all of our directors and executive officers:</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br>&nbsp;<br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>28</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=144> <td width=330> <td width=36> <td width=102 /> </tr><tr> <td width=144 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>Name</p></td> <td width=330 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>Position with the Company and </p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>Principal Occupation</p></td> <td width=36 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>Age</p></td> <td width=102 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>Director and/or Executive Officer Since</p></td></tr> <tr bgcolor=#cceeff> <td width=144 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Lewis H. Titterton </p></td> <td width=330 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px">Chairman of the Board</p></td> <td width=36 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>71</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>2010</p></td></tr> <tr> <td width=144 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Robert A. Berman</p></td> <td width=330 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Director, President and Chief Executive Officer</p></td> <td width=36 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>52</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>2012</p></td></tr> <tr bgcolor=#cceeff> <td width=144 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Dr. Amit Kumar</p></td> <td width=330 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Vice Chairman of the Board, Executive Chairman and Chief Executive Officer of Anixa Diagnostics</p></td> <td width=36 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>51</p></td> <td width=102 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>2012</p></td></tr> <tr> <td width=144 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Bruce F. Johnson</p></td> <td width=330 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Director</p></td> <td width=36 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>73</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>2012</p></td></tr> <tr bgcolor=#cceeff> <td width=144 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Dale Fox</p></td> <td width=330 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Director</p></td> <td width=36 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>48</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>2014</p></td></tr> <tr> <td width=144 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Henry P. Herms</p></td> <td width=330 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px">Chief Financial Officer and Vice President <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Finance</p></td> <td width=36 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>70</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:4px" align=center>2000</p></td></tr></table> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We believe that our Board represents a desirable mix of backgrounds, skills, and experiences. The principal occupation and business experience during the last five years for our executive officers and directors and some of the specific experiences, qualifications, attributes or skills that led to the conclusion that each person should serve as one of our directors in light of our business and structure is as follows:</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b><i>Lewis H. </font><font style=BACKGROUND-COLOR:#ffffff>Titterton</font><font style=BACKGROUND-COLOR:#ffffff>, 7</font><font style=BACKGROUND-COLOR:#ffffff>1</font><font style=BACKGROUND-COLOR:#ffffff>, Chairman of the Board</i></b></font><font style=BACKGROUND-COLOR:#ffffff>. Mr. Titterton has served as a director since August 16, 2010, the Chairman of the Board since July 20, 2012 and interim Chief Executive Officer from August 21, 2012 until September 19, 2012. &nbsp;Mr. Titterton is currently also Chairman of the Board of NYMED, Inc., a diversified health services company. &nbsp;His background is in high technology with an emphasis on health care and he has been with NYMED, Inc. since 1989. &nbsp;Mr. Titterton founded MedE America, Inc. in 1986 and was Chief Executive Officer of Management and Planning Services, Inc. from 1978 to 1986. &nbsp;Mr. Titterton also served as one of our Directors from July 1999 to January 2003. &nbsp;He holds a M.B.A. from the State University of New York at Albany, and a B.A. degree from Cornell University. Mr. Titterton has been involved with our Company as a director or investor for over nineteen years. Mr. Titterton also has substantial experience with advising on the strategic development of technology companies and over forty years of experience in various aspects of the technology industry.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i>Robert A. Berman, 52, Director, President and Chief Executive Officer</i></b>. Mr. Berman has served as our President and Chief Executive Officer since September 19, 2012 and was elected to our Board on November 30, 2012. Mr. Berman has experience in a broad variety of areas including finance, acquisitions, marketing, and the development, licensing, and monetization of intellectual property. &nbsp;He was recently the CEO of IP Dispute Resolution Corporation (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>IPDR<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), a consulting company focused on technology licensing and product development, from March 2007 to September 2012. Prior to IPDR, Mr. Berman was the Chief Operating Officer and General Counsel of Acacia Research Corporation from 2000 to March 2007. &nbsp;&nbsp;Mr. Berman holds a J.D. from the Northwestern University School of Law and a B.S. in Entrepreneurial Management from the Wharton School of the University of Pennsylvania. &nbsp;Mr. Berman has experience in both investing in and starting new ventures and new technologies, in </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>29</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>areas including finance, acquisitions, operations, and marketing, and has served as an officer of another publicly traded company.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b><i>Dr. Amit Kumar, 5</font><font style=BACKGROUND-COLOR:#ffffff>1</font><font style=BACKGROUND-COLOR:#ffffff>, </font><font style=BACKGROUND-COLOR:#ffffff>Vice Chairman of the Board, Executive Chairman and Chief Executive Officer of </font><font style=BACKGROUND-COLOR:#ffffff>Anixa</font><font style=BACKGROUND-COLOR:#ffffff> Diagnostics</i></b></font><font style=BACKGROUND-COLOR:#ffffff>. Dr. Kumar has served on our Board since November 30, 2012 and has been a strategic advisor to the Company since September 19, 2012.&nbsp; On June 15, 2015, Dr. Kumar was appointed Vice Chairman of the Company and Executive Chairman and Chief Executive Officer of Anixa Diagnostics Corporation, a wholly-owned subsidiary of the Company. Upon his appointment as Executive Chairman of Anixa, Dr. Kumar resigned from his position as the CEO of Geo Fossil Fuels LLC, an energy company, which he had held since December 2010. &nbsp;From September 2001 to June 2010, Dr. Kumar was President and CEO of CombiMatrix Corporation, a NASDAQ listed biotechnology company and also served as director from September 2000 to June 2012. &nbsp;Dr. Kumar was Vice President of Life Sciences of Acacia Research Corporation, a publicly traded investment company, from July 2000 to August 2007 and also served as a director from January 2003 to August 2007. &nbsp;&nbsp;Dr. Kumar has served as Chairman of the board of directors of Ascent Solar Technologies, Inc., a publicly-held solar energy company, since June 2007, and as a director of Aeolus Pharmaceuticals, Inc. since June 2004. &nbsp;Dr. Kumar holds an A.B. in Chemistry from Occidental College and Ph.D. from Caltech and completed his post-doctoral training at Harvard University. Dr. Kumar has experience in technology driven startups, both at the board and operating levels, in a &nbsp;broad variety of areas including finance, acquisitions, R&amp;D, and marketing, and has served as a director and officer of another publicly traded company.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b><i>Bruce F. Johnson, 7</font><font style=BACKGROUND-COLOR:#ffffff>3</font><font style=BACKGROUND-COLOR:#ffffff>, Director</i></b></font><font style=BACKGROUND-COLOR:#ffffff>. Mr. Johnson has served on our Board since August 29, 2012.&nbsp; Mr. Johnson has been a commodity trader on the Chicago Mercantile Exchange for over 40 years. He served as a member of the board of directors of CME Group Inc. from 1998 to May 2015. He had previously served as President, Director and part-owner of Packers Trading Company, a former futures commissions merchant/clearing firm at the CME from 1969 to 2003. He also serves on the board of directors of the Chicago Crime Commission. Mr. Johnson holds a B.S. in Marketing from Bradley University and a J.D. from John Marshall Law School. &nbsp;Mr. Johnson has been involved with the Company as an investor for over 12 years and has over 30 years<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> experience in the capital markets as a result of his investment background.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b><i>Dale Fox, 4</font><font style=BACKGROUND-COLOR:#ffffff>8</font><font style=BACKGROUND-COLOR:#ffffff>, Director</i></b></font><font style=BACKGROUND-COLOR:#ffffff>. Mr. Mr. Fox is an entrepreneur and innovator who has launched many companies. He is currently the CEO of Tribogenics, a start-up company he co-founded in 2010 that develops portable, powerful X-ray devices based, in part, upon a technology conceived and licensed from the University of California, Los Angeles. &nbsp;Mr. Fox has raised numerous rounds of capital for many types of companies, including venture capital, strategic investments, and other financings. &nbsp;Mr. Fox has built executive and advisory teams. He received a Bachelor of Business Administration degree from Southern Methodist University<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Cox School of Business. Since 2009, Mr. Fox has taught at the Founders Institute where he teaches classes on start-ups and continues to mentor young entrepreneurs. &nbsp;Mr. Fox is an experienced startup entrepreneur and inventor who has successfully launched a number of companies. &nbsp;As a result, Mr. Fox has gained experience is a broad variety of other areas including finance, research and development and marketing.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b><i>Henry P. Herms, </font><font style=BACKGROUND-COLOR:#ffffff>70,</font><font style=BACKGROUND-COLOR:#ffffff> Chief Financial Officer and Vice President <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Finance</font><font style=BACKGROUND-COLOR:#ffffff>. </i></b></font><font style=BACKGROUND-COLOR:#ffffff>&nbsp;Mr. Herms has served as our Chief Financial Officer and Vice President <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Finance since November </font></p><font style=BACKGROUND-COLOR:#ffffff> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>30</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p></font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>2000 and served as one of our Directors from August 2001 through August 2014. Mr. Herms was also our Chief Financial Officer from 1982 to 1987. He is also a former audit manager and CPA with the firm of Arthur Andersen LLP. He holds a B.B.A. degree from Adelphi University. </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Except for Dr. Kumar and Mr. Johnson, none of our current directors or executive officers has served as a director of another public company within the past five years. </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">&nbsp;<b>(c) </b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b>Our Significant Employees</b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px">We have no significant employees other than our executive management team. </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><b>(d) </b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b>Family Relationships </b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px">There are no family relationships between or among the directors, executive officers or persons nominated or chosen by the Company to become directors or executive officers. </p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><b>(e) </b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b>Involvement of Certain Legal Proceedings </b></p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>To the best of our knowledge, during the past ten years, none of the following occurred with respect to a present or former director or executive officer of the Company: (1) any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; (2) any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses); (3) being subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his or her involvement in any type of business, securities or banking activities; (4) being found by a court of competent jurisdiction (in a civil action), the Commission or the Commodities Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated; (5) being subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding relating to an alleged violation of the federal or state securities, commodities, banking or insurance laws or regulations or any settlement thereof or involvement in mail or wire fraud in connection with any business entity not subsequently reversed, suspended or vacated and (6) being subject of, or a party to, any disciplinary sanctions or orders imposed by a stock, commodities or derivatives exchange or other self-regulatory organization. </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px"><b><u>Section 16(a) Beneficial Ownership Reporting Compliance</u></b></p> <p style="MARGIN-BOTTOM:21px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>Section 16(a) of the Exchange Act requires our directors, executive officers and ten percent stockholders to file initial reports of ownership and reports of changes in ownership of our common stock with the Commission. Directors, executive officers and ten percent stockholders are also required to furnish us with copies of all Section 16(a) forms that they file. &nbsp;Based upon a review of these filings, we believe that all required Section 16(a) reports were made on a timely basis during fiscal year 2015.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>31</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px"><b><u>Code of Ethics</u> </b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>We have adopted a formal code of ethics that applies to our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions.&nbsp; We will provide a copy of our code of ethics to any person without charge, upon request.&nbsp; For a copy of our code of ethics write to Secretary, ITUS Corporation, 12100 Wilshire Boulevard, Suite 1275, Los Angeles, California.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=justify><b><u>Nomination Procedures</u> </b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>On July 9, 2015, the Board established a nominating and corporate governance committee (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Nominating Committee<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). The Nominating Committee has a charter which will be reviewed on an annual basis by members of the committee and will be at all times composed of exclusively independent directors. The principal duties and responsibilities of the Nominating Committee are to identify qualified individuals to become board members, recommend to the Board individuals to be designated as nominees for election as directors at the annual meetings of stockholders, and develop and recommend to the Board the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s corporate governance guidelines. In selecting directors, the Nominating Committee will consider candidates that possess qualifications and expertise that will enhance the composition of the Board, including the considerations set forth below.&nbsp; The considerations set forth below are not meant as minimum qualifications, but rather as guidelines in weighing all of a candidate<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s qualifications and expertise.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:99px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:75px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:99px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Candidates should be individuals of personal integrity and ethical character.</font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:99px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:75px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:99px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Candidates should have background, achievements, and experience that will enhance our Board.&nbsp; This may come from experience in areas important to our business,&nbsp;substantial accomplishments or prior or current associations with institutions noted for their excellence.&nbsp; </font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:99px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:75px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:99px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Candidates should have demonstrated leadership ability, the intelligence and ability to make independent analytical inquiries and the ability to exercise sound business judgment.</font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:99px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:75px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:99px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Candidates should be free from conflicts that would impair their ability to discharge the fiduciary duties owed as a director to ITUS and its stockholders, and we will consider directors<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> independence from our management and stockholders.</font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:99px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:75px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:99px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Candidates should have, and be prepared to devote, adequate time and energy to the Board and its committees to ensure the diligent performance of their duties, including by attending meetings of the Board and its committees.</font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:99px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:75px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:99px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Due consideration will be given to the Board<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s overall balance of diversity of perspectives, backgrounds and experiences, as well as age, gender and ethnicity.</font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; FONT-FAMILY:'Symbol'; WIDTH:99px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:75px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:99px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Consideration will also be given to relevant legal and regulatory requirements.</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>We are of the view that the continuing service of qualified incumbents promotes stability and continuity in the board room, contributing to the Board<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to work as a collective body, while giving us the benefit of the familiarity and insight into our affairs that our directors accumulate during their tenure.&nbsp; Accordingly, the process of the Nominating Committee for identifying nominees for directors will reflect our practice of generally re-nominating incumbent directors who continue to satisfy the Board<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s criteria for membership on the Board, whom the </font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>32</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Nominating Committee believes continue to make important contributions and who consent to continue their service on the Board.&nbsp; If the Nominating Committee determines that an incumbent director consenting to re-nomination continues to be qualified and has satisfactorily performed his or her duties as director during the preceding term, and that there exist no reasons, including considerations relating to the composition and functional needs of the Board as a whole, why in the Nominating Committee<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s view the incumbent should not be re-nominated, the Nominating Committee will, absent special circumstances, generally propose the incumbent director for re-election.&nbsp; Although we do not have a formal policy regarding the consideration of diversity in identifying and evaluating potential director candidates, the Nominating Committee will take into account the personal characteristics (gender, ethnicity and age), skills and experience, qualifications and background of current and prospective directors<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> diversity as one factor in identifying and evaluating potential director candidates, so that the Board, as a whole, will possess what the nominating and corporate governance committee believes are appropriate skills, talent, expertise and backgrounds necessary to oversee our Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s business.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>If the incumbent directors are not nominated for re-election or if there is otherwise a vacancy on the Board, the Nominating Committee may solicit recommendations for nominees from persons that the Nominating Committee believes are likely to be familiar with qualified candidates, including from members of the Board and management.&nbsp; While the Nominating Committee may also engage a professional search firm to assist in identifying qualified candidates, the Nominating Committee did not engage any third party to identify or evaluate or assist in identifying or evaluating the Director Nominees.&nbsp;&nbsp; We do not have a policy with regard to the consideration of director candidates recommended by stockholders.&nbsp; Due to the size of our Company and Board, the Nominating Committee does not believe that such a policy is necessary.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Depending on its level of familiarity with the candidates, the Nominating Committee may choose to interview certain candidates that it believes may possess qualifications and expertise required for membership on the Board.&nbsp; It may also gather such other information it deems appropriate to develop a well-rounded view of the candidate.&nbsp; Based on reports from those interviews or from Board members with personal knowledge and experience with a candidate, and on all other available information and relevant considerations, the Nominating Committee will select and nominate candidates who, in its view, are most suited for membership on the Board.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The members of the nominating committee are Messrs. Titterton (Chairman), Johnson and Fox.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px"><b><u>Audit Committee and Audit Committee Financial Expert</u></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On July 9, 2015, the Board established a separately-designated standing audit committee (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Audit Committee<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) established in accordance with Section&nbsp;3(a)(58)(A) of the Exchange Act, and Nasdaq Listing Rules.&nbsp;The Audit Committee has a charter which will be reviewed on an annual basis by members of the committee and will be at all times composed of exclusively independent directors who are <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>financially literate,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> meaning they are able to read and understand fundamental financial statements, including the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s balance sheet, income statement and cash flow statement. In addition, the committee will have at least one member who qualifies as an <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>audit committee financial expert<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> as defined in rules and regulations of the SEC.</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>33</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The principal duties and responsibilities of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Audit Committee are to appoint the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s independent auditors, oversee the quality and integrity of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s financial reporting and the audit of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s financial statements by its independent auditors and in fulfilling its obligations, the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Audit Committee will review with the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s management and independent auditors the scope and result of the annual audit, the auditors<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> independence and the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s accounting policies.</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Audit Committee will be required to report regularly to the Board to discuss any issues that arise with respect to the quality or integrity of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s financial statements, its compliance with legal or regulatory requirements and the performance and independence of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s independent auditors.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The members of the Audit Committee are Messrs. Titterton (Chairman), Johnson and Fox. Our Board has determined that Mr.&nbsp;Titterton qualifies as an Audit Committee financial expert as defined by SEC rules, based on his education, experience and background. Please see Mr.&nbsp;Titterton<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s biographical information above for a description of his relevant experience.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 11.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b><u>Executive Compensation</u>.</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>The following table sets forth certain information for the fiscal years ended October 31, 2015 and 2014, with respect to compensation awarded to, earned by or paid to our current Chief Executive Officer and our Chief Financial Officer and the Executive Chairman and Chief Executive Officer of Anixa (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Named Executive Officers<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>).&nbsp; No other executive officer received total compensation in excess of $100,000 during fiscal year 2015.&nbsp;</font></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>34</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=168> <td width=47> <td width=78> <td width=66> <td width=84> <td width=90> <td width=90 /> </tr><tr> <td width=623 colspan=7 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px align=center>SUMMARY COMPENSATION TABLE</p></td></tr> <tr> <td width=168 height=52 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Name and</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Principal Position</p></td> <td width=47 height=52 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Year</p></td> <td width=78 height=52 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Salary</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>($)</p></td> <td width=66 height=52 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Bonus</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>($)</p></td> <td width=84 height=52 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Option Awards</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>($) (2)</p></td> <td width=90 height=52 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>All Other</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Compensation</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>($) (3)</p></td> <td width=90 height=52 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Total</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Compensation</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>($)</p></td></tr> <tr bgcolor=#cceeff> <td width=168 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Robert A. Berman </p> <p style="FONT-SIZE:11pt; MARGIN:0px">Chief Executive Officer and Director</p></td> <td width=47 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>2015</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>2014<br></p></td> <td width=78 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$300,000</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$300,000<br></p></td> <td width=66 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;$150,000</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;$200,000 </p></td> <td width=84 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;169,081</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;254,480</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;4,160</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;8,320</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;623,241</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;762,800</p></td></tr> <tr> <td width=168 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px">Dr. Amit Kumar (1)</p> <p style="FONT-SIZE:11pt; MARGIN:0px">Vice Chairman of the Board, Executive Chairman and Chief Executive Officer of Anixa Diagnostics</p></td> <td width=47 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>2015</p></td> <td width=78 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$112,500</p></td> <td width=66 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=84 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;112,500</p></td></tr> <tr bgcolor=#cceeff> <td width=168 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px">Henry P. Herms</p> <p style="FONT-SIZE:11pt; MARGIN:0px">Chief Financial Officer, Vice President- Finance </p></td> <td width=47 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>2015</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>2014</p> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td width=78 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$168,000</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$168,000</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p></td> <td width=66 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;-</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;-</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p></td> <td width=84 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;16,252 </p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;92,455</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;184,252</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;$ &nbsp;260,455 </p></td></tr></table> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-48px" align=justify>(1) On June 15, 2015, Dr. Kumar was appointed Vice Chairman of the Company and Executive Chairman and Chief Executive Officer of Anixa Diagnostics Corporation, a wholly-owned subsidiary of the Company. The above table represents Dr. Kumar<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s compensation subsequent to June 15, 2015. &nbsp;Prior to that date Dr. Kumar received compensation for his services as a consultant. For more information about Dr. Kumar<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s consultancy arrangements, see the section entitled <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Transactions with Related Persons<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> below.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-48px" align=justify>(2)&nbsp;&nbsp;Amounts in the Option Awards column reflects repricing of outstanding options on February 5, 2015. See the section entitled <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Option Re-Pricing<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> below. &nbsp;A discussion of assumptions used in valuation of option awards may be found in Notes 2 and 6 to our Consolidated Financial Statements for fiscal year ended October 31, 2015, included elsewhere in this Annual Report on Form 10-K.&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-48px" align=justify>(3)&nbsp;&nbsp;Amounts in the All Other Compensation column reflect, for each Named Executive Officer, the sum of the incremental cost to us of all perquisites and personal benefits, which consisted solely of life insurance premiums</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u>Employment Agreements</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:72px; MARGIN:0px; TEXT-INDENT:-24px" align=justify><font style=BACKGROUND-COLOR:#ffffff><u>Employment Agreement with Robert Berman</u></font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>On September 19, 2012, the Company entered into an Employment Agreement with Mr. Berman (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Berman Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to serve as President and Chief Executive Officer of the Company.&nbsp; Pursuant to the Berman Agreement, Mr. Berman was to receive an annual base salary of $290,000, provided, however that payment of his salary was to be deferred until the Cash Milestone (as described below) was achieved.&nbsp; In February 2013, the Board elected to commence paying Mr. Berman his salary effective February 1, 2013, but his deferred salary, which was earned and accrued, was not paid until fiscal year 2015.&nbsp; In August 2013, the Cash Milestone was achieved.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>In addition to his base salary, Mr. Berman was entitled to a cash bonus of $50,000, if the Company generated aggregate cash payments in excess of a specified amount (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Cash </font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>35</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Milestone<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) prior to September 19, 2013.&nbsp; The Cash Milestone bonus, which was earned and accrued, was not paid until fiscal year 2015.&nbsp; Mr. Berman was also entitled to two additional cash bonuses of $50,000 if the average trading price of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock exceeded two separate price targets (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Stock Price Targets<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) prior to September 19, 2013, which Stock Price Targets were not achieved prior to September 19, 2013.&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>The Company also granted Mr. Berman options to purchase 640,000 shares of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common&nbsp;stock,&nbsp;with an exercise price of $5.4375 which was the average of the high and the low sales price of the common stock on the trading day immediately preceding the approval of such options by the Board (on February 5, 2015 the exercise price was reduced to $2.575 per share). Half of the options vest in 36 equal monthly installments commencing on October 31, 2012, provided that if the Berman Agreement is terminated or constructively terminated by the Company without cause (as defined below), an additional 12 months of vesting will be accelerated and such accelerated options will become immediately exercisable.&nbsp;The balance of the options vest in three equal installments upon achievement of the Cash Milestone (which Cash Milestone has been achieved) and the Stock Price Targets (without regard to the 12 month period).&nbsp;The vesting conditions of the Stock&nbsp;Price Target options have been amended as described below. The options otherwise have the same terms and conditions as options granted under the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s 2010 Share Incentive Plan (as defined below).</font><font style="FONT-FAMILY:Times New Roman,Times New Roman; BACKGROUND-COLOR:#ffffff">&nbsp;</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>If Mr. Berman<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s employment is terminated by the Company or he terminates his employment for any reason or no reason, the Company shall be obligated to pay to Mr. Berman only any earned compensation and/or bonus due under the Berman Agreement, any unpaid reasonable and necessary expenses, and any accrued and unpaid benefits due to him in accordance with the terms and conditions of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s benefit plans and policies including any accrued but unpaid vacation up to the cap of 20 days through the date of termination.&nbsp; All such payments shall be made in a lump sum immediately following termination as required by law.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Cause<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> means (i) commission of or entrance of a plea of guilty or nolo contendere to a felony; (ii) conviction for engaging or having engaged in fraud, breach of fiduciary duty, a crime of moral turpitude, dishonesty, or other acts of willful misconduct or gross negligence in connection with the business affairs of the Company or its affiliates; (iii) a conviction for theft, embezzlement, or other intentional misappropriation of funds by employee from the Company or its affiliates; or (iv) a conviction in connection with the willful engaging by employee in conduct which is demonstrably and materially injurious to the Company or its affiliates, monetarily or otherwise.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><i><u>Amendment to Employment and Stock Option Agreements</u></i></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Robert A. Berman<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s employment agreement includes the grant of certain stock options.&nbsp; On November&nbsp;8, 2013, in light of the cost and expense of valuing the unvested portion of the options on a quarterly basis for financial reporting purposes, the Board approved an amendment to the Stock Price Target stock options awarded on September 19, 2012 (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Option Awards<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to Mr. Berman.&nbsp; The amendment modifies the Option Awards<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> vesting conditions to provide that the unvested portion of the stock options will vest in 23&nbsp;consecutive monthly installments, commencing on November 30, 2013 through September 30, 2015.&nbsp; As of October 31, 2015, all Option Awards have vested. &nbsp;Prior to the amendment, the Option Awards had provided </p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>36</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>that the stock options would vest if certain milestone targets were met.&nbsp; All the other terms and conditions of the Option Awards remain unchanged.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u>Stock Options</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table sets forth certain information with respect to unexercised stock options held by the Named Executive Officers outstanding on October 31, 2015:</p> <p style=MARGIN:0px align=justify><br></p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=120> <td width=120> <td width=126> <td width=108> <td width=102 /> </tr><tr> <td width=576 colspan=5 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE</p></td></tr> <tr> <td width=576 colspan=5 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>Option Awards </p></td></tr> <tr> <td width=120 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>Name</p></td> <td width=120 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>Number of Securities Underlying Unexercised Options (#) </p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>Exercisable</p></td> <td width=126 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>Number of Securities Underlying Unexercised Options (#) </p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>Un -Exercisable</p></td> <td width=108 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>Option Exercise Price</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>($)</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>Option Expiration Date</p></td></tr> <tr bgcolor=#cceeff> <td width=120 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">Robert A. Berman</p></td> <td width=120 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320,000(1)</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106,667(2)</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213,333(3) </p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28,889(4)</p></td> <td width=126 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;</p> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,111(4) </p></td> <td width=108 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/8/2023</p></td></tr> <tr> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">Dr. Amit Kumar</p></td> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320,000(1)</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106,667(2)</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213,333(3) </p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28,889(4)</p></td> <td width=126 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,111(4)</p></td> <td width=108 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/8/2023</p></td></tr> <tr bgcolor=#cceeff> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">Henry P. Herms </p></td> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,889(4)</p></td> <td width=126 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px" align=center><br></p> <p style="MARGIN-BOTTOM:3px; MARGIN-TOP:4px"><br></p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,111(4)</p></td> <td width=108 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>5/31/2016</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/20/2016</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/11/2017</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>10/7/2019</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>6/1/2021</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/8/2018</p></td></tr></table> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>(1)&nbsp;&nbsp;&nbsp;Options vested and became exercisable in 36 consecutive monthly installments, beginning October 31, 2012 and continuing through September 30, 2015.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>(2)&nbsp; &nbsp;Options vested upon achievement of the Cash Milestone.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>(3) &nbsp;&nbsp;Options were to vest in two equal installments upon achievement of the Stock Price Targets.&nbsp; On November 8, 2013, the vesting conditions were modified by the Board to provide that the unvested portion of the stock options vest in 23&nbsp;consecutive monthly installments, commencing on November 30, 2013 through September 30, 2015.&nbsp;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>37</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>(4)&nbsp;&nbsp; Options vest and became exercisable in 36 consecutive monthly installments, beginning December 31, 2013 and continuing through November 30, 2016.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>There were no grants of stock options to Named Executive Officers during fiscal year 2015.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table summarizes the exercise of stock options during fiscal 2015 by Named Executive Officers:</p> <p style=MARGIN:0px align=justify><br></p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=144> <td width=150> <td width=156 /> </tr><tr> <td width=450 colspan=3 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>OPTION EXERCISES AND STOCK VESTED TABLE</p></td></tr> <tr> <td width=144 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Name</p></td> <td width=306 colspan=2 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Option Awards</p></td></tr> <tr> <td width=144 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=150 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Number of Shares Acquired on Exercise</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>(#)</p></td> <td width=156 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Value Realized</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>on Exercise</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>($) (1)</p></td></tr> <tr bgcolor=#cceeff> <td width=144 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px">Henry P. Herms</p></td> <td width=150 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>4,000</p></td> <td width=156 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>$4,460</p></td></tr></table> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:120px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:96px"><font style=BACKGROUND-COLOR:#ffffff>(1)</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:120px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>The value realized on exercise is calculated based on the difference between the exercise price of the options and the market price of the stock at the time of exercise.</font></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px"><b><u>Option Re-Pricing</u></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On January 28, 2015, the Board of Directors authorized management of the Company to re-price issued and outstanding stock options for all of the officers, directors and employees of the Company, at any time prior to February 16, 2015. &nbsp;On February 5, 2015, management acted to re-price 87,365 issued and outstanding stock options (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Re-Priced Options<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) pursuant to the authority granted by the Board of Directors. The new exercise price of the Re-Priced Options is $2.575, the closing sales price of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock on February 5, 2015. &nbsp;All other terms of the previously granted Re-Priced Options remain the same. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following stock option grants and related stock option agreements issued to the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Named Executive Officers and directors are affected by the re-pricing:</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>38</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br><br></p> <p style=MARGIN:0px><br></p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=138 style=BORDER-BOTTOM:0px> <td width=102 style=BORDER-BOTTOM:0px> <td width=84 style=BORDER-BOTTOM:0px>&nbsp; <td width=90 style=BORDER-BOTTOM:0px> <td width=96 style=BORDER-BOTTOM:0px /> </tr><tr> <td width=138 style="BORDER-TOP:#000000 4px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>Name</p></td> <td width=102 style="BORDER-TOP:#000000 4px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center># of Shares</p></td> <td width=84 style="BORDER-TOP:#000000 4px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>Old Option Price</p></td> <td width=90 style="BORDER-TOP:#000000 4px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>New Option Price</p></td> <td width=96 style="BORDER-TOP:#000000 4px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>Expiration</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>Date</p></td></tr> <tr bgcolor=#cceeff> <td width=138 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">Lewis A. Titterton</p></td> <td width=102 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,400</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40,000 </p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;120,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,000</p></td> <td width=84 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.625</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.025</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$4.875</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.875 </p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$4.750</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.800</p></td> <td width=90 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p></td> <td width=96 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/30/2017</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>12/31/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>2/15/2023</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/8/2023</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>1/2/2024</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>1/2/2025</p></td></tr> <tr> <td width=138 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">Robert A. Berman</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;320,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;106,667</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;213,333 </p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40,000</p></td> <td width=84 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.7375</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.7375</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.7375</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.7375</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p></td> <td width=96 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/8/2023</p></td></tr> <tr bgcolor=#cceeff> <td width=138 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">Dr. Amit Kumar</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;106,667</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;213,333 </p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40,000</p></td> <td width=84 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.7375</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.7375</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.7375</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.7375</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p></td> <td width=96 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/8/2023</p></td></tr> <tr> <td width=138 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">Bruce F. Johnson</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,400</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,400</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;12,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;12,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;12,000</p></td> <td width=84 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$3.000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$5.025</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$4.875</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$4.750</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.800</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p></td> <td width=96 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>8/30/2014</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/30/2017</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>12/31/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>1/2/2024</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>1/2/2025</p></td></tr> <tr bgcolor=#cceeff> <td width=138 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">Dale Fox</p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;12,000</p></td> <td width=84 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$6.250</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.800</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p></td> <td width=96 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>8/8/2024</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>1/2/20255</p></td></tr> <tr> <td width=138 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">Henry P. Herms </p></td> <td width=102 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,000</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,000</p></td> <td width=84 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$3.625</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$17.500&nbsp;&nbsp;</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$3.625</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$3.625</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.250</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.875&nbsp;</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.000&nbsp;&nbsp;&nbsp;&nbsp;</p></td> <td width=90 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>$2.575</p></td> <td width=96 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>5/31/2016</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/20/2016</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/11/2017</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>10/7/2019</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>6/1/2021</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>9/19/2022</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:11pt; MARGIN-TOP:4px" align=center>11/8/2018</p></td></tr></table> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u>Potential Payments upon Termination or Change in Control</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><font style=BACKGROUND-COLOR:#ffffff><u>Robert A. Berman</u></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Options granted Mr. Berman on November 8, 2013 provide for the vesting of the unvested portion of his options to be accelerated and such accelerated options to become immediately exercisable if Mr. Berman is terminated without cause or upon a change in control as defined below. The intrinsic value of such options would be $16,540,&nbsp;which was calculated by multiplying (a) 14,445 options (being the number of options granted to him on November 8, </font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p><font style=BACKGROUND-COLOR:#ffffff> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>39</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p></font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>2013 that would be accelerated) by (b) an amount equal to the excess of (x) our closing share price on October 31, 2015 of $3.72 and (y) the options<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> exercise price of $2.575 per share.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>In addition to the acceleration of the options,&nbsp;if Mr. Berman<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s employment is terminated by the Company or he terminates his employment for any reason or no reason, the Company shall be obligated to pay to Mr. Berman only any earned compensation and/or bonus due under the Berman Agreement, any unpaid reasonable and necessary expenses, and any accrued and unpaid benefits due to him in accordance with the terms and conditions of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s benefit plans and policies including any accrued but unpaid vacation up to the cap of 20 days through the date of termination (which accrued and unpaid benefits would have a maximum value of $23,077).</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font><font style=BACKGROUND-COLOR:#ffffff><u>Henry P. Herms</u></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:54px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Options granted Mr. Herms on November 8, 2013 provide for the vesting of the unvested portion of his options to be accelerated and such accelerated options to become immediately exercisable if Mr. Herms is terminated without cause or upon a change in control as defined below. The intrinsic value of such options would be $9,097, which was calculated by multiplying (a) 7,945 options (being the unvested portion of options granted to him on November 8, 2014 that he held on October 31, 2015) by (b) an amount equal to the excess of (x) our closing share price on October 31, 2015 of $3.72 and (y) the options<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> exercise price of $2.575 per share.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Under the 2010 Share Incentive Plan, <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>change in control<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> means:</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Change in Ownership: A change in ownership of the Company occurs on the date that any one person, or more than one person acting as a group, acquires ownership of stock of the Company that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Company, excluding the acquisition of additional stock by a person or more than one person acting as a group who is considered to own more than 50% of the total fair market value or total voting power of the stock of the Company.</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; CLEAR:left; MARGIN:0px">&nbsp;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:0px; MARGIN:0px 0px 0px 96px; TEXT-INDENT:-2px"><font style=BACKGROUND-COLOR:#ffffff>Change in Effective Control: A change in effective control of the Company occurs on the date that either:</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; CLEAR:left; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify><font style=BACKGROUND-COLOR:#ffffff>o&nbsp;&nbsp;&nbsp;Any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the Company possessing 30% or more of the total voting power of the stock of the Company; or</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify><font style=BACKGROUND-COLOR:#ffffff>o&nbsp;&nbsp;&nbsp;a majority of the members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board before the date of the appointment or election; provided, that this paragraph will apply only to the Company if no other corporation is a majority shareholder.</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>40</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p> <p style=MARGIN:0px><br></p><font style=BACKGROUND-COLOR:#ffffff> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:'Symbol'; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=BACKGROUND-COLOR:#ffffff>&#183;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:0px; MARGIN:0px 0px 0px 96px; PADDING-RIGHT:0px; TEXT-INDENT:-2px" align=justify>Change in Ownership of Substantial Assets: A change in the ownership of a substantial portion of the Company's assets occurs on the date that any one person, or more than one person acting as a group, acquires (or has acquired&nbsp;&nbsp;during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 40% of the total gross fair market value of the assets of the Company immediately before such acquisition or acquisitions. For this purpose, <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>gross fair market value<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.</font></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>It is the intent that this definition be construed consistent with the definition of <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Change of Control<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> as defined under Code Section 409A and the applicable treasury regulations, as amended from time to time.</font></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px"><b>Director<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Compensation</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:54px" align=justify>There is no present arrangement for cash compensation of directors for services in that capacity.&nbsp; Consistent with the non-employee director compensation approved on March 28, 2013 for calendar year 2013, on November 8, 2013, the Board approved an amendment to the 2010 Share Incentive Plan to provide that on January 1st of each year commencing on January 1, 2014, each non-employee director (a <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Director Participant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) of the Company at that time shall automatically be granted a 10 year nonqualified stock option to purchase 12,000 shares of common stock (or 16,000 in the case of the Chairman of the Board to the extent he qualifies as a Director Participant), with an exercise price equal to the closing price on the date of grant, that will vest in four equal quarterly installments in the year of grant.&nbsp; In addition, each person who is a Director Participant and joins the Board after January 1 of any year, shall be granted on the date such person joins the Board, a nonqualified stock option to purchase 12,000 shares of common stock (or 16,000 in the case of the Chairman of the Board) pro-rated based upon the number of calendar quarters remaining in the calendar year in which such person joins the Board (rounded up for partial quarters).&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our employee directors, Robert A. Berman and Dr. Amit Kumar, did not receive any additional compensation for services provided as a director during fiscal year 2015.&nbsp; The following table sets forth compensation of Lewis H. Titterton, Bruce F. Johnson and Dale Fox, our non-employee directors and Dr. Andrea Belz, our former non-employee director, for fiscal year 2015: </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>41</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=145> <td width=114> <td width=102> <td width=101 /> </tr><tr> <td width=463 colspan=4 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>DIRECTORS COMPENSATION</p></td></tr> <tr> <td width=145 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Name</p></td> <td width=114 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Option Awards</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>($) (1)</p></td> <td width=102 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Bonus</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>($)</p></td> <td width=101 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>All Other</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Compensation</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>($)</p></td></tr> <tr bgcolor=#cceeff> <td width=145 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px">Lewis H. Titterton</p></td> <td width=114 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>$84,177</p></td> <td width=102 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td> <td width=101 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td></tr> <tr> <td width=145 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px">Bruce F. Johnson</p></td> <td width=114 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>$32,832</p></td> <td width=102 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td> <td width=101 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td></tr> <tr bgcolor=#cceeff> <td width=145 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px">Dr. Andrea Belz</p></td> <td width=114 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>$15,375</p></td> <td width=102 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td> <td width=101 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td></tr> <tr> <td width=145 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px">Dale Fox</p></td> <td width=114 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>$29,265</p></td> <td width=102 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td> <td width=101 style="BORDER-RIGHT:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td></tr> <tr bgcolor=#cceeff> <td width=145 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px">Dr. Amit Kumar (2)</p></td> <td width=114 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td> <td width=102 style="BORDER-TOP:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td> <td width=101 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>-</p></td></tr></table> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-48px" align=justify>(1)&nbsp;&nbsp; &nbsp;Amounts in the Option Awards column represent the aggregate grant date fair value of stock option awards made during the fiscal year ended October 31, 2015, in accordance with ASC 718 and reflects repricing of outstanding options on February 5, 2015. See the section entitled <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Option Re-Pricing<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> above. &nbsp;A discussion of assumptions used in valuation of option awards may be found in Notes 2 and 6 to our Consolidated Financial Statements for fiscal year ended October 31, 2015, included elsewhere in this Annual Report on Form 10-K.&nbsp;At October 31, 2015, Lewis H. Titterton, Bruce F. Johnson, Dr. Andrea Belz and Dale Fox held unexercised stock options to purchase 240,400 40,800, 12,000 and 18,000 shares respectively, of our common stock. </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:84px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:48px">(2)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Dr. Kumar did not receive any compensation for his services as a director. &nbsp;However, Dr. Kumar did receive compensation for his services as a consultant. &nbsp;For more information about Dr. Kumar<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s consultancy arrangements, see the section entitled <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Transactions with Related Persons<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> below.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 12.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b>Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.</b></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table sets forth certain information with respect to our common stock beneficially owned as of December 17, 2015 (or exercisable within 60 days of such date) by (a) each person who is known by our management to be the beneficial owner of more than 5% of our outstanding common stock, (b) each of our directors and executive officers, and (c) all directors and executive officers as a group: &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>42</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <table  style="FONT-SIZE:10pt; BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=289> <td width=180 align=center> <td width=120 /> </tr><tr> <td width=289 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:2px; MARGIN-TOP:2px"><u>Name and Address of Beneficial Owner</u></p></td> <td width=180 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=bottom> <p style="MARGIN-BOTTOM:2px; MARGIN-TOP:2px" align=center>Amount and Nature of <br>Beneficial Ownership<br><u>(1)(2)(3)(4)(5)</u></p></td> <td width=120 style="BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:2px; MARGIN-TOP:2px" align=center><u>Percent of Class (6)</u></p></td></tr> <tr> <td width=289 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Lewis H. Titterton </p> <p style="FONT-SIZE:12pt; MARGIN:0px">12100 Wilshire Boulevard, Suite 1275</p> <p style="FONT-SIZE:12pt; MARGIN:0px">Los Angeles, CA 90025</p></td> <td width=180 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>704,004</p></td> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>7.88%</p></td></tr> <tr> <td width=289 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Robert A. Berman12100 Wilshire Boulevard, Suite 1275</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px">Los Angeles, CA 90025</p></td> <td width=180 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>721,113</p></td> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>7.67%</p></td></tr> <tr> <td width=289 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px">Dr. Amit Kumar</p> <p style="FONT-SIZE:12pt; MARGIN:0px">12100 Wilshire Boulevard, Suite 1275</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px">Los Angeles, CA 90025</p></td> <td width=180 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>786,629</p></td> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>8.36%</p></td></tr> <tr> <td width=289 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Bruce F. Johnson12100 Wilshire Boulevard, Suite 1275</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px">Los Angeles, CA 90025</p></td> <td width=180 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>458,217</p></td> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>5.22%</p></td></tr> <tr> <td width=289 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Dale Fox</p> <p style="FONT-SIZE:12pt; MARGIN:0px">12100 Wilshire Boulevard, Suite 1275</p> <p style="FONT-SIZE:12pt; MARGIN:0px">Los Angeles, CA 90025</p></td> <td width=180 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>18,000</p></td> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>*</p></td></tr> <tr> <td width=289 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Henry P. Herms12100 Wilshire Boulevard, Suite 1275</p> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px">Los Angeles, CA 90025</p></td> <td width=180 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>65,014</p></td> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>*</p></td></tr> <tr> <td width=289 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px">All Directors and Executive Officers as a Group (6 persons)</p></td> <td width=180 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=top> <p style="MARGIN-BOTTOM:3px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;2,752,976</p></td> <td width=120 style="BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>26.46%</p></td></tr></table> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>* Less than 1%.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">(1)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>A beneficial owner of a security includes any person who directly or indirectly has or shares voting power and/or investment power with respect to such security or has the right to obtain such voting power and/or investment power within sixty (60) days. &nbsp;Except as otherwise noted, each designated beneficial owner in this Annual Report on Form 10-K has sole voting power and investment power with respect to the shares of common stock beneficially owned by such person.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">(2)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Includes 121,067 shares, 28,889 shares, 28,889 shares, 28,800 shares, 18,000 shares, 31,889 shares and 257,533 shares which Lewis H. Titterton, Robert A. Berman, Dr. Amit Kumar, Bruce F. Johnson, Dale Fox, Henry P. Herms and all directors and executive officers as a group, respectively, have the right to acquire within 60 days upon exercise of options granted pursuant to the 2003 Share Incentive Plan and/or the 2010 Share Incentive Plan. &nbsp;</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">(3)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Includes 2,000 shares, 6,666 shares, 15,332 shares, 13,332 and 37,330 shares that Lewis H. Titterton, Robert A. Berman, Dr. Amit Kumar, Bruce F. Johnson and all directors and executive officers as a group, respectively, have the right to acquire within 60 days upon exercise of warrants purchased by them in the private placements on January 25, 2013 and July 15, 2014.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>43</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">(5)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Includes 86,000 shares, 640,000 shares, 640,000 shares, 12,000 shares and 1,378,000 shares which Lewis H. Titterton, Robert A. Berman, Dr. Amit Kumar, Bruce F. Johnson and all directors and executive officers as a group, respectively, respectively, have the right to acquire within 60 days pursuant to option agreements with the Company.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">(6)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Based on 8,720,878 shares of common stock outstanding as of December 17, 2015.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=justify><b><u>Change in Control</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We are not aware of any arrangement that might result in a change in control of the Company in the future.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px"><b>Equity Compensation Plan Information</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following is information as of October 31, 2015 about shares of our common stock that may be issued upon the exercise of options, warrants and rights under all equity compensation plans in effect as of that date, including our 2003 Share Incentive Plan and our 2010 Share Incentive Plan. &nbsp;See Note 6 to Consolidated Financial Statements for more information on these plans.</p> <p style=MARGIN:0px align=justify><br></p> <table  style="FONT-SIZE:10pt; BORDER-TOP:#000000 1px solid; BORDER-RIGHT:#000000 1px solid; BORDER-BOTTOM:#000000 1px solid; BORDER-LEFT:#000000 1px solid; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=133 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=108 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=108 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=132 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" /> </tr><tr> <td width=133 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><b>Plan category</b></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=126 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><b>Number of securities to be issued upon exercise of outstanding options, warrants and rights(a)</b></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=126 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><b>Weighted average exercise price of outstanding options, warrants and rights</b></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=150 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><b>Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)</b></p></td></tr> <tr> <td width=133 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px><br></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px><br></p></td> <td width=108 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:13px; MARGIN-TOP:0px" align=center>&nbsp;</p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=right><br></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=right><br></p></td> <td width=108 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=center><br></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=right><br></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=right><br></p></td> <td width=132 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=center><br></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=right><br></p></td></tr> <tr bgcolor=#cceeff> <td width=133 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>Equity compensation plans not approved by security holders (1)(2)</p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px><br></p></td> <td width=108 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center>2,672,471</p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p></td> <td width=108 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center>$4.91</p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p></td> <td width=132 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center>988,955</p></td> <td width=18 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; BORDER-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p></td></tr></table> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">(1)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>On April 23, 2003 the Board adopted the 2003 Share Incentive Plan. &nbsp;Officers, key employees and non-employee directors of, and consultants to, the Company or any of its subsidiaries and affiliates were eligible to participate in the 2003 Share Incentive Plan. &nbsp;The 2003 Share Incentive Plan provided for the grant of stock options, stock appreciation rights, stock awards, performance awards and stock units (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>2003 Benefits<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;The maximum number of shares of common stock available for issuance under the 2003 Share Incentive Plan was 2,800,000. &nbsp;The 2003 Share Incentive Plan was administered by the Stock Option Committee through June 2004, from June 2004 through July 2010 by the Board, from July 2010 through August 2012, by the Stock Option Committee, from August 2012 through November 2012, by the Executive Committee of the Board and since November 2012 by the Board, which determined the option price, term and provisions of the 2003 Benefits. &nbsp;The 2003 Share Incentive Plan contains provisions for equitable adjustment of the 2003 Benefits in the event of a merger, consolidation, reorganization, recapitalization, stock dividend, stock split, reverse stock split, spinoff, </p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>44</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>combination of shares, exchange of shares, dividends in kind or other like change in capital structure or distribution (other than normal cash dividends) to stockholders of the Company. &nbsp;The 2003 Share Incentive Plan terminated with respect to additional grants on April 21, 2013. &nbsp;</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">(2) </p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>On July 14, 2010 the Board adopted the 2010 Share Incentive Plan. &nbsp;Officers, key employees and non-employee directors of, and consultants to, the Company or any of its subsidiaries and affiliates are eligible to participate in the 2010 Share Incentive Plan. &nbsp;The 2010 Share Incentive Plan provides for the grant of stock options, stock appreciation rights, stock awards, and performance awards and stock units (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>2010 Benefits<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;The maximum number of shares of common stock available for issuance under the 2010 Share Incentive Plan was initially 600,000 shares. &nbsp;&nbsp;On July 6, 2011 and August 29, 2012, the 2010 Share Incentive Plan was amended by our Board to increase the maximum number of shares of common stock that may be granted to 1,080,000 and 1,200,000 shares, respectively. &nbsp;On November 8, 2013, the Board approved an amendment to provide that effective and following November 8, 2013, the maximum aggregate number of shares available for issuance will be 800,000 shares. &nbsp;Additionally, commencing on the first business day in 2014 and on the first business day of each calendar year thereafter, the maximum aggregate number of shares available for issuance shall be replenished such that, as of such first business day, the maximum aggregate number of shares available for issuance shall be 800,000 shares. Current and future non-employees directors are automatically granted a 10 year nonqualified stock option to purchase 12,000 shares of Common Stock (or 16,000 in the case of the Chairman of the Board) on January 1st of each year that will vest in four equal quarterly installments. &nbsp;The 2010 Share Incentive Plan was administered by the Stock Option Committee through August 2012, by the Stock Option Committee, from August 2012 through November 2012, by the Executive Committee of the Board and since November 2012 by the Board of Directors, which determines the option price, term and provisions of each option. &nbsp;The 2010 Share Incentive Plan terminates with respect to additional grants on July 14, 2020. &nbsp;The Board may amend, suspend or terminate the 2010 Share Incentive Plan at any time. </p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>45</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 13.</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px"><b><u>Certain Relationships and Related Transactions, and Director Independence</u>.</b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u>Transactions with Related Persons</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>As more fully described in <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Executive Compensation - Employment Agreements,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> on September 19, 2012, we entered into an employment agreement with Robert A. Berman, the </font></p><font style=BACKGROUND-COLOR:#ffffff> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>46</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p></font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:#ffffff>Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s President, Chief Executive Officer and a director, and concurrently issued to Mr. Berman options to purchase 640,000 shares of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock.&nbsp; </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>On September 19, 2012, the Company entered into a Consulting Agreement with Dr. Amit Kumar (the "Kumar Agreement"), a director of the Company, pursuant to which Dr. Kumar agreed to provide business consulting services for an annual consulting fee of $120,000. In connection with the Kumar Agreement, the Company granted Dr. Kumar options to purchase 640,000 shares of the Company's common stock, with an exercise price of $5.4375.&nbsp;Dr. Kumar has also earned a $50,000 bonus pursuant to the Kumar Agreement. The Kumar Agreement was amended on November 8, 2013 to modify the vesting schedule of any unvested options. </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=justify><b>Related Person Transaction Approval Policy</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff>While we have no written policy regarding approval of transactions between us and a related person, our Board, as matter of appropriate corporate governance, reviews and approves all such transactions, to the extent required by applicable rules and regulations.&nbsp; Generally, management would present to the Board for approval at the next regularly scheduled Board meeting any related person transactions proposed to be entered into by us.&nbsp; The Board may approve the transaction if it is deemed to be in the best interests of our stockholders and the Company.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u>Director Independence</u></b></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our Board oversees the activities of our management in the handling of the business and affairs of our company. &nbsp;Our common stock trades on the NASDAQ Capital Markets and we are subject to listing requirements which include the requirement that our Board be comprised of a majority of <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>independent<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> directors. &nbsp;Lewis H. Titterton, Bruce F. Johnson and Dale Fox currently meet the definition of <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>independent<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> as defined by the SEC. &nbsp;The Board of Directors has separately designated audit, nominating and compensation committees. Our directors, Robert A. Berman and Dr. Amit Kumar, are employees of, or consultants to, the Company and as such do not qualify as <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>independent<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> directors. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 14.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><b><u>Principal Accounting Audit Fees and Services</u>.</b></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;The following table describes fees for professional audit services rendered and billed by Haskell &amp; White LLP, our present independent registered public accounting firm and principal accountant, for the audit of our consolidated financial statements and for other services during fiscal years 2015 and 2014.</p> <p style=MARGIN:0px align=justify><br></p> <table width=540  style="FONT-SIZE:10pt; WIDTH:540px; MARGIN-TOP:0px; solid:" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td valign=bottom> <td valign=bottom> <td width=87 valign=bottom> <td width=18 valign=bottom> <td valign=bottom> <td width=86 valign=bottom /> </tr><tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;<u>Type of Fee</u></p></td> <td valign=bottom> <td width=87 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td valign=bottom> <td width=86 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td valign=bottom> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td valign=bottom> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px">Audit Fees (1)</p></td> <td><font style=FONT-SIZE:12pt>$</font></td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;&nbsp;97,390</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p></td> <td><font size=3>$</font></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;82,280</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px">Audit Related Fees (2)</p></td> <td valign=bottom> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;&nbsp;34,500</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td valign=bottom> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;37,130</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px">Tax Fees (3)</p></td> <td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;20,000&nbsp;</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p></td> <td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px">All Other Fees</p></td> <td style="BORDER-BOTTOM:#000000 1px solid" valign=bottom>&nbsp;</td> <td width=87 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td style="BORDER-BOTTOM:#000000 1px solid" valign=bottom>&nbsp;</td> <td width=86 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px">Total</p></td> <td style="BORDER-BOTTOM:#000000 3px double"><font size=3>$</font></td> <td width=87 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>159,290</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p></td> <td style="BORDER-BOTTOM:#000000 3px double"><font size=3>$</font></td> <td width=86 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;119,410</p></td></tr> <tr> <td style=BORDER-BOTTOM:0px valign=bottom>&nbsp;</td> <td style=BORDER-BOTTOM:0px valign=bottom> <td style=BORDER-BOTTOM:0px valign=bottom> <td style=BORDER-BOTTOM:0px valign=bottom> <td style=BORDER-BOTTOM:0px valign=bottom> <td style=BORDER-BOTTOM:0px valign=bottom /></tr></table> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>47</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:Times New Roman,Times New Roman; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:24px">(1)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Audit fees for fiscal years 2015 and 2014 represent fees billed for services rendered by Haskell &amp; White LLP for the audit of our consolidated financial statements and review of our quarterly reports on Form 10-Q.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:Times New Roman,Times New Roman; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:24px">(2)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Audit related fees for fiscal years 2015 and 2014 represent fees billed for services rendered by Haskell &amp; White in connection with our Registration Statements filed during fiscal years 2015 and 2014</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; FONT-FAMILY:Times New Roman,Times New Roman; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:24px">(3)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Tax Fees for fiscal year 2015 represent fees billed for services rendered by Haskell &amp; White for the preparation of Federal and State income tax returns.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:72px; CLEAR:left; MARGIN:0px; TEXT-INDENT:-42px" align=justify>&nbsp;&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u>Procedures For Board of Directors Pre-Approval of Audit and Permissible Non-Audit Services of Independent Auditor </u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our Board was responsible for reviewing and approving, in advance, any audit and any permissible non-audit engagement or relationship between us and our independent registered public accounting firm. &nbsp;On July 9, 2015, the Board established an Audit Committee which assumed these responsibilities. &nbsp;Haskell &amp; White LLP<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s engagement to conduct our fiscal year 2015 audit was approved by our Board on June 15, 2015. &nbsp;&nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center><b>PART IV</b></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 15.</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px"><b><u>Exhibits, Financial Statement Schedules</u></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:96px; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:-96px"><b>(a)(1)(2) <u>Financial Statement Schedules</u></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:192px; MARGIN-TOP:0px; TEXT-INDENT:-96px">See accompanying <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Index to Consolidated Financial Statements.<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>48</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; HEIGHT:19px; WIDTH:68px; FLOAT:left; MARGIN-TOP:0px"><b>(b)</b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><b><u>Exhibits</u></b></p> <table width=975  style="FONT-SIZE:10pt; WIDTH:975px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=55> <td /> </tr><tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px">3.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certificate of Incorporation, as amended. &nbsp;(Incorporated by reference to Form 10-Q for the fiscal quarter ended July 31, 1992 and Form S-3, dated February 11, 2014.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.2</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment to the Certificate of Incorporation. (Incorporated by reference to Form 10-K for the fiscal year ended October 31, 2013.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.3</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certificate of Amendment to the Certificate of Incorporation. (Incorporated by reference to Exhibit 3.1 on Form 8-K, dated September 4, 2014.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.4</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock. (Incorporated by reference to Exhibit 3.1 of our Form 8-K, dated September 10, 2014.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.5</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amended and Restated By-laws. (Incorporated by reference to Exhibit 3.1 to our Form 8-K dated, November 8, 2012.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.6</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certificate of Amendment to the Certificate of Incorporation (Incorporated by reference to Exhibit 3.1 on Form 8-K, dated June 25, 2015.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">4.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Registration Rights Agreement, dated as of April 23, 2013, by and between the Company and Aspire Capital Fund, LLC. (Incorporated by reference to Exhibit 4.3 to our Form S-1, dated April 24, 2013.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">2003 Share Incentive Plan. &nbsp;(Incorporated by reference to Exhibit 4 to our Form S-8 dated May 5, 2003.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.2</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 1 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4(e) to our Form S-8 dated November 9, 2004.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.3</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 2 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2006.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.4</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 3 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 10.2 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2006.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.5</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 4 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4(g) to our Form S-8 dated September 21, 2007.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.6</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 5 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4(g) to our Form S-8 dated January 21, 2009.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.7</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 6 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 10.5 to our Form 8-K, dated July 20, 2010.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.8</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">2010 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Form 8-K, dated July 20, 2010.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.9</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 1 to the 2010 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Form 8-K, dated July 7, 2011.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.10</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 2 to the 2010 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Form 8-K, dated September 5, 2012.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.11</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 3 to the 2010 Share Incentive Plan (Incorporated by reference to Exhibit 10.1 to our Form 10-Q for the fiscal quarter ended January 31, 2014.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.12</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Loan and Pledge Agreement, dated November 2, 2007, by and between Mars Overseas Limited and CopyTele International Ltd. (Incorporated by reference to Exhibit 10.5 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2008.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.13</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Loan and Pledge Agreement, dated November 2, 2007, by and between CopyTele International Ltd. and Mars Overseas Limited. (Incorporated by reference to Exhibit 10.6 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2008.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.14</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Employment Agreement, dated as of September 19, 2012, between the Company and Robert Berman. (Incorporated by reference to Exhibit 10.35 to our Form 10-K for the fiscal year ended October 31, 2012.) &nbsp;(Portions of Section 4 of this exhibit have been redacted and filed separately with the Commission in accordance with a request for, and related Order by the Commission, dated May 3, 2013, File No. 0-11254-CF#29240, granting confidential treatment for portions of Section 4 of this exhibit to pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.15</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Employment Agreement, dated as of September 19, 2012, between the Company and John Roop. (Incorporated by reference to Exhibit 10.36 to our Form 10-K for the fiscal year ended October 31, 2012.) &nbsp;(Portions of Section 4 of this exhibit have been redacted and filed separately with the Commission in accordance with a request for, and related Order by the Commission, dated May 3, 2013, File No. 0-11254-CF#29240, granting confidential treatment for portions of Section 4 of this exhibit to pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.16</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Consulting Agreement, dated as of September 19, 2012, between the Company and Amit Kumar. &nbsp;(Incorporated by reference to Exhibit 10.37 to our Form 10-K for the fiscal year ended October 31, 2012.) &nbsp;(Portions of Section 4 of this exhibit have been redacted and filed separately with the Commission in accordance with a request for, and related Order by the Commission, dated May 3, 2013, File No. 0-11254-CF#29240, granting confidential treatment for portions of Section 4 of this exhibit to pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.17</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Securities Purchase Agreement, dated July 15, 2014, between the Company and the Purchasers named therein in connection with the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s registered direct offering. (Incorporated by reference to Exhibit 10.1 to Form 8-K, dated July 15, 2014.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.18</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Form of Warrant issued to investors in connection with the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s registered direct offering. (Incorporated by reference to Exhibit 4.1 to Form 8-K, dated&nbsp;July 15, 2014).</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.19</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Termination Agreements, each dated August 29, 2014, relating to the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s transaction with Videocon Industries Limited. (Incorporated by reference to Exhibit 10.20 to our Form S-1 dated December 8, 2014.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.20</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Debt Conversion Agreement, dated September 9, 2014, between the Company and Adaptive Capital, LLC. (Incorporated by reference to Exhibit 10.21 to our Form S-1 dated December 8, 2014.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.21</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Warrant issued to Adaptive Capital, LLC. (Incorporated by reference to Exhibit 10.22 to our Form S-1 dated December 8, 2014.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.22</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">At Market Issuance Sales Agreement, dated October 2, 2015, between the Company and National Securities Corporation (Incorporated by reference to Exhibit 10.1 to Form 8-K, dated October 2, 2015.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">21</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Subsidiaries of ITUS Corporation. (Filed herewith.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">23.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Consent of Haskell &amp; White LLP. &nbsp;(Filed herewith.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">31.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certification of Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated December 22, 2015. &nbsp;(Filed herewith.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">31.2</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certification of Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated December 22, 2015. &nbsp;(Filed herewith.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">32.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Statement of Chief Executive Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated December 22, 2015. &nbsp;(Furnished herewith.)</p></td></tr> <tr> <td width=55 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">32.2</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Statement of Chief Financial Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated December 22, 2015. &nbsp;(Furnished herewith.)</p></td></tr></table> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>49</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px" align=center><b><u>SIGNATURES</u></b></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:288px; MARGIN-TOP:0px">ITUS CORPORATION</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:480px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:288px">By: &nbsp;<u>/s/ Robert A. Berman</u></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; MARGIN:0px; TEXT-INDENT:-2px"><br>Robert Berman<br>President and</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:318px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px">December 22, 2015</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>Chief Executive Officer</p> <p style="CLEAR:left; MARGIN:0px" align=center><br>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:54px" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated.</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:480px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:288px">By: &nbsp;<u>/s/ Robert A. Berman</u></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><br>Robert A. Berman</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; CLEAR:left; MARGIN:0px" align=justify>President, Chief Executive Officer</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:318px; FLOAT:left; MARGIN-TOP:0px">December 22, 2015</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>and Director (Principal Executive Officer)</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:480px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:288px">By: &nbsp;<u>/s/ Henry P. Herms</u></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><br>Henry P. Herms</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:288px; CLEAR:left; MARGIN:0px; TEXT-INDENT:30px" align=justify>Vice President - Finance, </p> <p style="FONT-SIZE:12pt; PADDING-LEFT:288px; MARGIN:0px; TEXT-INDENT:30px" align=justify>Chief Financial Officer and</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:288px; MARGIN:0px; TEXT-INDENT:30px" align=justify>Director (Principal Financial</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:318px; FLOAT:left; MARGIN-TOP:0px">December 22, 2015</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>and Accounting Officer)</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:480px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:288px">By: &nbsp;<u>/s/ Lewis H. Titterton </u></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><br>Lewis H. Titterton </p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:318px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px">December 22, 2015</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; MARGIN:0px; TEXT-INDENT:-2px">Chairman of the Board </p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:480px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:288px">By:&nbsp;&nbsp;<u>/s/ Dr. Amit Kumar</u><u> </u></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px">&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; CLEAR:left; MARGIN:0px" align=justify>Dr. Amit Kumar</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:318px; FLOAT:left; MARGIN-TOP:0px">December 22, 2015</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; MARGIN:0px; TEXT-INDENT:-2px">Director </p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px">&nbsp;</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:480px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:288px">By:&nbsp;&nbsp;<u>/s/ Bruce F. Johnson</u></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px">&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; CLEAR:left; MARGIN:0px" align=justify>Bruce F. Johnson</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:288px; FLOAT:left; MARGIN-TOP:0px">December 22, 2015</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Director</p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:288px">By: &nbsp;<u>/s/ Dale Fox</u></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:318px; MARGIN:0px" align=justify>Dale Fox</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:288px; FLOAT:left; MARGIN-TOP:0px">December 22, 2015</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Director</p> <p style="MARGIN-BOTTOM:16px; CLEAR:left; MARGIN-TOP:0px" align=center><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:144px; MARGIN:0px; TEXT-INDENT:-24px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>50</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>EXHIBITS</p> <p style=MARGIN:0px align=center><br></p> <table width=975  style="FONT-SIZE:10pt; WIDTH:975px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=66> <td /> </tr><tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certificate of Incorporation, as amended. &nbsp;(Incorporated by reference to Form 10-Q for the fiscal quarter ended July 31, 1992 and Form S-3, dated February 11, 2014.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.2</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment to the Certificate of Incorporation. (Incorporated by reference to Form 10-K for the fiscal year ended October 31, 2013.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.3</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certificate of Amendment to the Certificate of Incorporation. (Incorporated by reference to Exhibit 3.1 on Form 8-K, dated September 4, 2014.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.4</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock. (Incorporated by reference to Exhibit 3.1 of our Form 8-K, dated September 10, 2014.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.5</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amended and Restated By-laws. (Incorporated by reference to Exhibit 3.1 to our Form 8-K dated, November 8, 2012.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.6</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certificate of Amendment to the Certificate of Incorporation (Incorporated by reference to Exhibit 3.1 on Form 8-K, dated June 25, 2015.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">4.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Registration Rights Agreement, dated as of April 23, 2013, by and between the Company and Aspire Capital Fund, LLC. (Incorporated by reference to Exhibit 4.3 to our Form S-1, dated April 24, 2013.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">2003 Share Incentive Plan. &nbsp;(Incorporated by reference to Exhibit 4 to our Form S-8 dated May 5, 2003.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.2</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 1 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4(e) to our Form S-8 dated November 9, 2004.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.3</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 2 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2006.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.4</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 3 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 10.2 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2006.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.5</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 4 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4(g) to our Form S-8 dated September 21, 2007.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.6</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 5 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 4(g) to our Form S-8 dated January 21, 2009.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.7</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 6 to the 2003 Share Incentive Plan. (Incorporated by reference to Exhibit 10.5 to our Form 8-K, dated July 20, 2010.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.8</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">2010 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Form 8-K, dated July 20, 2010.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.9</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 1 to the 2010 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Form 8-K, dated July 7, 2011.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.10</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 2 to the 2010 Share Incentive Plan. (Incorporated by reference to Exhibit 10.1 to our Form 8-K, dated September 5, 2012.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.11</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Amendment No. 3 to the 2010 Share Incentive Plan (Incorporated by reference to Exhibit 10.1 to our Form 10-Q for the fiscal quarter ended January 31, 2014.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.12</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Loan and Pledge Agreement, dated November 2, 2007, by and between Mars Overseas Limited and CopyTele International Ltd. (Incorporated by reference to Exhibit 10.5 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2008.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.13</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Loan and Pledge Agreement, dated November 2, 2007, by and between CopyTele International Ltd. and Mars Overseas Limited. (Incorporated by reference to Exhibit 10.6 to our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2008.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.14</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Employment Agreement, dated as of September 19, 2012, between the Company and Robert Berman. (Incorporated by reference to Exhibit 10.35 to our Form 10-K for the fiscal year ended October 31, 2012.) &nbsp;(Portions of Section 4 of this exhibit have been redacted and filed separately with the Commission in accordance with a request for, and related Order by the Commission, dated May 3, 2013, File No. 0-11254-CF#29240, granting confidential treatment for portions of Section 4 of this exhibit to pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.15</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Employment Agreement, dated as of September 19, 2012, between the Company and John Roop. (Incorporated by reference to Exhibit 10.36 to our Form 10-K for the fiscal year ended October 31, 2012.) &nbsp;(Portions of Section 4 of this exhibit have been redacted and filed separately with the Commission in accordance with a request for, and related Order by the Commission, dated May 3, 2013, File No. 0-11254-CF#29240, granting confidential treatment for portions of Section 4 of this exhibit to pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.16</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Consulting Agreement, dated as of September 19, 2012, between the Company and Amit Kumar. &nbsp;(Incorporated by reference to Exhibit 10.37 to our Form 10-K for the fiscal year ended October 31, 2012.) &nbsp;(Portions of Section 4 of this exhibit have been redacted and filed separately with the Commission in accordance with a request for, and related Order by the Commission, dated May 3, 2013, File No. 0-11254-CF#29240, granting confidential treatment for portions of Section 4 of this exhibit to pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.17</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Securities Purchase Agreement, dated July 15, 2014, between the Company and the Purchasers named therein in connection with the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s registered direct offering. (Incorporated by reference to Exhibit 10.1 to Form 8-K, dated July 15, 2014.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.18</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Form of Warrant issued to investors in connection with the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s registered direct offering. (Incorporated by reference to Exhibit 4.1 to Form 8-K, dated&nbsp;July 15, 2014).</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.19</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Termination Agreements, each dated August 29, 2014, relating to the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s transaction with Videocon Industries Limited. (Incorporated by reference to Exhibit 10.20 to our Form S-1 dated December 8, 2014.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.20</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Debt Conversion Agreement, dated September 9, 2014, between the Company and Adaptive Capital, LLC. (Incorporated by reference to Exhibit 10.21 to our Form S-1 dated December 8, 2014.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.21</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Warrant issued to Adaptive Capital, LLC. (Incorporated by reference to Exhibit 10.22 to our Form S-1 dated December 8, 2014.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">10.22</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">At Market Issuance Sales Agreement, dated October 2, 2015, between the Company and National Securities Corporation (Incorporated by reference to Exhibit 10.1 to Form 8-K, dated October 2, 2015.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">21</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Subsidiaries of ITUS Corporation. (Filed herewith.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">23.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Consent of Haskell &amp; White LLP. &nbsp;(Filed herewith.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">31.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certification of Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated December 22, 2015. &nbsp;(Filed herewith.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">31.2</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Certification of Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated December 22, 2015. &nbsp;(Filed herewith.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">32.1</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Statement of Chief Executive Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated December 22, 2015. &nbsp;(Furnished herewith.)</p></td></tr> <tr> <td width=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">32.2</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:7px; MARGIN-TOP:0px; PADDING-RIGHT:7px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Statement of Chief Financial Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated December 22, 2015. &nbsp;(Furnished herewith.)</p></td></tr></table> <p style=MARGIN:0px align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>51</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px"><strong>ITUS CORPORATION AND SUBSIDIARIES</strong></p> <p style="FONT-SIZE:11pt; MARGIN:0px"><strong>INDEX&nbsp;TO&nbsp;CONSOLIDATED FINANCIAL&nbsp;STATEMENTS<br>OCTOBER 31, 2015</strong></p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=541> <td width=96 /> </tr><tr> <td width=541 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px"><br></p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; MARGIN:0px" align=center>Page</p></td></tr> <tr> <td width=541 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px><br></p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style=MARGIN:0px><br></p></td></tr> <tr> <td width=541 height=39 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px">Report of Independent Registered Public Accounting Firm</p></td> <td width=96 height=39 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>F-1 </p></td></tr> <tr> <td width=541 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px">Consolidated Balance Sheets as of October 31, 2015 and 2014</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>F-2</p></td></tr> <tr> <td width=541 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px">Consolidated Statements of Operations for the years ended October 31, 2015 and 2014</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>F-3</p> <p style=MARGIN:0px align=center><br></p></td></tr> <tr> <td width=541 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px">Consolidated Statements of Shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> Equity for the years ended October 31, 2015</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;and 2014 </p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style=MARGIN:0px align=center>F-4</p> <p style=MARGIN:0px align=center><br></p></td></tr> <tr> <td width=541 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px">Consolidated Statements of Cash Flows for the years ended October 31, 2015 and 2014 </p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>F-5</p></td></tr> <tr> <td width=541 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px">Notes to Consolidated Financial Statements</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=top> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=center>F-6 &nbsp;<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> &nbsp;F-38</p></td></tr></table></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px">Additional information required by schedules called for under Regulation S-X is either not applicable or is included in the financial statements or notes thereto.</p><a name=_aciFooter51> <div> <p style="TEXT-ALIGN:center; MARGIN:0in 0.25in 0pt 0in" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 0.25in 0pt 0in" align=center>&nbsp;</p></div></a><a name=_aciFooter51> <hr size=1> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></a> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN:12pt 0in 0pt 0pt; TEXT-INDENT:-0.2pt" align=center><b><font size=+0><b><font style=FONT-SIZE:11pt lang=EN-US>ITUS CORPORATION AND SUBSIDIARIES</font></b></font></b></p> <p style="MARGIN:12pt 0in 0pt 0pt; TEXT-INDENT:-0.2pt" align=center><b><font style=FONT-SIZE:11pt>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></b> </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px">The Board of Directors and Shareholders</p> <p style="MARGIN-BOTTOM:24px; FONT-SIZE:11pt; MARGIN-TOP:0px">ITUS Corporation</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>We have audited the accompanying consolidated balance sheets of ITUS Corporation (the&nbsp;<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) as of October 31, 2015 and 2014, and the related consolidated statements of operations, shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> equity, and cash flows for each of the years ended October 31, 2015 and 2014. &nbsp;These consolidated financial statements are the responsibility of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s management. &nbsp;Our responsibility is to express an opinion on these consolidated financial statements based on our audits.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). &nbsp;Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. &nbsp;The Company has determined that it is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. &nbsp;Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting. &nbsp;Accordingly, we express no such opinion. &nbsp;An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. &nbsp;An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall consolidated financial statement presentation. &nbsp;We believe that our audits provide a reasonable basis for our opinion.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of the Company as of October 31, 2015 and 2014, and the consolidated results of its operations and its cash flows for each of the years ended October 31, 2015 and 2014, in conformity with accounting principles generally accepted in the United States. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px">/s/ Haskell &amp; White LLP</p> <p style="FONT-SIZE:11pt; MARGIN:0px">HASKELL &amp; WHITE LLP</p> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px" align=center><br></p> <p style="MARGIN-BOTTOM:40px; FONT-SIZE:11pt; MARGIN-TOP:0px">Irvine, California<br>December 22, 2015<a name=_aciFooter51>&nbsp;</a></p> <div> <p style="TEXT-ALIGN:center; MARGIN:0in 0.25in 0pt 0in" align=center><font style=FONT-SIZE:11pt face="Times New Roman" lang=EN-US>F-1</font></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0.25in 0pt 0in" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 0.25in 0pt 0in" align=center>&nbsp;</p></div><a name=_aciFooter51> <hr size=1> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></a> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><strong>ITUS CORPORATION AND SUBSIDIARIES</strong></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:rgb(255,255,255)>CONSOLIDATED BALANCE&nbsp;SHEETS</font></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table width=850  style="FONT-SIZE:10pt; WIDTH:850px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td valign=bottom> <td valign=bottom> <td align=right valign=bottom> <td valign=bottom> <td align=right valign=bottom> <td valign=bottom> <td width=76 align=right valign=bottom /> </tr><tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style=MARGIN:0px align=center>October 31,</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td colspan=3 align=right valign=bottom> <p style=MARGIN:0px align=center>October 31,</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p style=MARGIN:0px align=center>2015</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td colspan=3 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p style=MARGIN:0px align=center>2014</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="MARGIN:0px; TEXT-INDENT:192px"><u>ASSETS</u></p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Current assets:</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents </p></td> <td valign=bottom>$</td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;4,369,219</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <p align=left>$</p></td> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;3,361,246</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="PADDING-LEFT:12px; MARGIN:0px">Short<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font>term investments in certificates of deposit</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;2,400,000</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;2,500,000</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="PADDING-LEFT:12px; MARGIN:0px">Accounts receivable</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;400,000</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid">&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;126,528</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp;</td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;60,577</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets </p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;6,895,747</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;6,321,823</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td height=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Patents, net of accumulated amortization of $639,744 and $314,453, respectively</p></td> <td valign=bottom> <td height=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;2,396,367</p></td> <td height=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <td height=15 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;2,721,658</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style="PADDING-LEFT:12px; MARGIN:0px; TEXT-INDENT:-12px">Property and equipment, net of accumulated depreciation of &nbsp;$13,617 &nbsp;and $48,842, respectively</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid">&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;43,456</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp;</td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;11,875</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom /> </tr><tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets </p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double">$</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;9,335,570</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" align=right> <p align=left>$</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;9,055,356</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center><u>LIABILITIES&nbsp;AND&nbsp;SHAREHOLDERS</u><font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>&nbsp;EQUITY</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>Current liabilities:</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses</p></td> <td valign=bottom>$</td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;380,765</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <p align=left>$</p></td> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp; 1,249,426</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royalties and contingent legal fees payable</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid">&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px; TEXT-INDENT:1px" align=right>&nbsp;&nbsp;213,017</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp;&nbsp;</td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560,076</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;593,782</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;1,809,502</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Patent acquisition obligation (Note 7)</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px; TEXT-INDENT:7px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;3,688,187</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>&nbsp;</td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;3,236,281</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid">&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;4,281,969</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp; </td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;5,045,783</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>Commitments and contingencies (Notes 7 and 8)</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> equity:</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, par value $100 per share; 19,860 shares authorized; no shares</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;</p></td> <td align=right> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued or outstanding</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>-</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A convertible preferred stock, par value $100 per share; 140 shares &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued and outstanding</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>14,000</p></td> <td valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;14,000</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;Common stock, par value $.01 per share; 24,000,000 shares authorized;</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,724,878 and 8,788,176 shares issued and outstanding, respectively</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;87,249</p></td> <td valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;87,882</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="PADDING-BOTTOM:0px; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;151,101,117</p></td> <td> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;148,677,413</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="PADDING-LEFT:12px; MARGIN:0px">&nbsp;Accumulated deficit </p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>(146,148,765)</p></td> <td valign=bottom> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td width=76 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>(144,769,722)</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style="PADDING-LEFT:12px; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> equity</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid">&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px; TEXT-INDENT:0px" align=right>5,053,601</p></td> <td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td width=76 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;4,009,573</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px"> <p style="PADDING-LEFT:12px; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> equity </p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double">$</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;9,335,570</p></td> <td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=left>$</p></td> <td width=76 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;9,055,356</p></td></tr></table></p> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px"><br></p> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px"><br></p> <p style="MARGIN-BOTTOM:14px; MARGIN-TOP:0px" align=center>The accompanying notes are an integral part of these statements.<br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>F-2</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:18px; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:18px; MARGIN:0px" align=center>&nbsp;CONSOLIDATED STATEMENTS&nbsp;OF&nbsp;OPERATIONS &nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr> <td valign=bottom> <td colspan=5 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p align=center>&nbsp;For the years ended October 31, &nbsp; </p></td></tr> <tr> <td valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p align=center><font style=FONT-SIZE:10pt>2015</font></p></td> <td valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p align=center><font style=FONT-SIZE:10pt>2014</font></p></td></tr> <tr> <td valign=bottom> <td valign=bottom> <td align=right valign=bottom> <td valign=bottom> <td valign=bottom> <td align=right valign=bottom /> </tr><tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Revenue:</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px; PADDING-RIGHT:7px" align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue from licensing activities</p></td> <td valign=bottom>$</td> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;255,000</p></td> <td valign=bottom> <td valign=bottom>$</td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;2,480,000</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of display technology development and license fees </p> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;received from AU Optronics Corporation in fiscal year 2011</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>1,187,320</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Settlement with AU Optronics Corporation</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=95 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;9,000,000</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=95 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;9,255,000</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;3,667,320</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Operating costs and expenses:</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventor royalties and contingent legal fees</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147,670</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,412,661</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Litigation and licensing expenses</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,500,852</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575,413</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of patents</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325,291</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314,453</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing, general and administrative expenses (including non-cash stock </p> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;option compensation expense of $2,676,309 and $3,149,799, respectively)</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=95 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;6,225,946</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;6,408,861</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating costs and expenses</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom> <td width=95 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;10,199,759</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,711,388</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Loss from operations</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(944,759)</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px; TEXT-INDENT:-1px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;(5,044,068)</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Impairment in value of Videocon Industries Limited global depository </p> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;receipts</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>(62,825)</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Change in value of derivative liability (Note 5)</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(592,945)</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Loss on extinguishment of debt (Note 5)</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;- </p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;(2,699,022)</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Interest expense (Notes 5 and 7)</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;(451,906)</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;(1,263,617)</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Dividend income</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47,568</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Interest income</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=95 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>17,622</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;8,595</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Loss before income taxes</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;(1,379,043)</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;(9,606,314)</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Provision for income taxes (Note 8)</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=95 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom>&nbsp;</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:8pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;<font style=FONT-SIZE:10pt>-</font>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Net loss</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" valign=bottom>$</td> <td width=95 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>(1,379,043)</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" valign=bottom>$</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>(9,606,314)</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Net loss per share:</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic and diluted </p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" valign=bottom>$</td> <td width=95 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;(0.16)</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" valign=bottom>$</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;(1.10)</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>Weighted average common shares outstanding:</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic and diluted </p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" valign=bottom>&nbsp;</td> <td width=95 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;8,760,126</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" valign=bottom>&nbsp;</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;8,710,867</p></td></tr> <tr> <td width=438 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=95 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr></table></p> <p style="MARGIN-BOTTOM:14px; MARGIN-TOP:0px" align=center>&nbsp;</p> <p style="MARGIN-BOTTOM:14px; MARGIN-TOP:0px" align=center>The accompanying notes are an integral part of these statements.<br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-3</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>CONSOLIDATED STATEMENT&nbsp;OF&nbsp;SHAREHOLDERS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> EQUITY</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>FOR&nbsp;THE&nbsp;YEARS&nbsp;ENDED&nbsp;OCTOBER 31, 2015 and 2014</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td align=left valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 align=right valign=bottom /> </tr><tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Loan</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td></tr> <tr> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td width=90 height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Receivable</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Total</p></td></tr> <tr> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Additional</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>From </p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td height=10 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font></p></td></tr> <tr> <td height=17 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td colspan=4 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Preferred Stock</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=4 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Common Stock</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Paid-in</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Former</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Accumulated</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Equity</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td width=48 style="WIDTH:48px; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Shares</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p align=center>&nbsp; Par Value</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Shares</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Par Value</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Capital</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>&nbsp;Affiliate</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>Deficit</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>(Deficiency)</p></td></tr> <tr> <td height=5 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;</p></td> <td height=5 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td height=5 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td height=5 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td height=5 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 height=5 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 height=5 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom>&nbsp;</td> <td height=5 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 height=5 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=333 style="WIDTH:333px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>BALANCE, October 31, 2013</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; PADDING-LEFT:32px; MARGIN:0px; TEXT-INDENT:-32px" align=right>&nbsp;&nbsp;-</p></td> <td align=right>&nbsp;</td> <td align=right>$</td> <td width=43 style="WIDTH:43px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; PADDING-LEFT:32px; MARGIN:0px; TEXT-INDENT:-32px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right>&nbsp;</td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>8,371,558</p></td> <td align=right>&nbsp;</td> <td align=right>$</td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;83,716</p></td> <td align=right>&nbsp;</td> <td align=right>$</td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>136,759,099</p></td> <td align=right>&nbsp;</td> <td align=right>$</td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(5,000,000)</p></td> <td align=right>&nbsp;</td> <td align=right>$</td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(135,163,408)</p></td> <td align=right>&nbsp;</td> <td align=right>$</td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(3,320,593)</p></td></tr> <tr> <td height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;</p></td> <td height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Stock option compensation to employees and consultants</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;3,149,799</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;3,149,799</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Common stock issued upon exercise of stock options</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;20,600</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;206</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;75,669 </p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;75,875</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Common stock issued to consultants</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;12,400</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;124</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;84,574</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;84,698</p></td></tr> <tr> <td height=21 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0px 0px 0px 10pt; PADDING-RIGHT:0px; TEXT-INDENT:-10pt" align=left>Common stock issued upon conversion of convertible<br>debentures due January 2015&nbsp;&nbsp;</p></td> <td height=21 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td height=21 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td height=21 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;330,683</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td height=21 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;3,307</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 height=21 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;2,732,042</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 height=21 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td height=21 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 height=21 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;2,735,349</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; PADDING-LEFT:0px; MARGIN:0px 0px 0px 10pt; PADDING-RIGHT:9px; TEXT-INDENT:-10pt" align=left>Common stock and preferred stock issued upon conversion<br>of convertible debentures due November 2016</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;140</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp; 14,000</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>100,800</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;1,008</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;5,214,633</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;5,229,641</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; PADDING-LEFT:0px; MARGIN:0px 0px 0px 10pt; TEXT-INDENT:-10pt" align=left>Common stock issued in lieu of interest on convertible<br>debentures</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;10,537</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;105</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;61,673</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;61,778</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Sale of common stock, net of expense</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>640,000</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;6,400</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;3,666,735</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;3,673,135</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; PADDING-LEFT:0px; MARGIN:0px 0px 0px 10pt; TEXT-INDENT:-10pt" align=left>Acquisition of common stock in exchange for investment in<br>Videocon Industries Limited global depository receipts</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(4,134,516)</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(4,134,516)</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; PADDING-LEFT:0px; MARGIN:0px 0px 0px 10pt; TEXT-INDENT:-10pt" align=left>Retire common stock acquired in exchange for investment in<br>Videocon Industries Limited global depository receipts</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(800,000)</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(8,000)</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;8,000</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right><i>&nbsp;&nbsp;</i>-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; PADDING-LEFT:0px; MARGIN:0px 0px 0px 10pt; TEXT-INDENT:-10pt" align=left>Warrants issued in connection with issuance of&nbsp;&nbsp;&nbsp;<br>convertible debentures</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>-</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;513,112</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;513,112</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Common stock issued upon exercise of warrants</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;53,598</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;536</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;299,473</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;300,009</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Common stock issued to acquire patent license</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;48,000</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;480</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>247,120</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;247,600</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Satisfaction of loan receivable from former affiliate</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>5,000,000</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;5,000,000</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Net Loss</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>&nbsp;</td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(9,606,314)</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(9,606,314)</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left /></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>BALANCE, October 31, 2014</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;140</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>14,000</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>8,788,176</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;87,882</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>148,677,413</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(144,769,722)</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;4,009,573</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left /></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Stock option compensation to employees and consultants</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;- </p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;2,676,309</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;2,676,309</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Common stock issued upon exercise of stock options</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;17,334</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;173</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;44,462</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;44,635</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Common stock issued to consultants</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;11,600</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;116</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;45,984</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;46,100</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0px 0px 0px 10pt; TEXT-INDENT:-10pt" align=left>Repurchase 92,232 shares of common stock and cancellation<br>of warrants to purchase 16,000 shares of common stock</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>(343,973)</p></td> <td align=right> <td align=right> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;-</p></td> <td align=right> <td align=right> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;(343,973)</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Retire common stock repurchased</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;(92,232)</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(922)</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;922</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>Net Loss</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp;</td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp;</td> <td width=83 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; PADDING-BOTTOM:0px; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp;</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;(1,379,043)</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>&nbsp;</td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(1,379,043)</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="FONT-SIZE:9pt; MARGIN:0px" align=left>BALANCE, October 31, 2015</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;140</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" align=right>$</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>14,000</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>8,724,878</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" align=right>$</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; MARGIN-RIGHT:0.04in" align=right>87,249</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" align=right>$</td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; PADDING-LEFT:0px; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>151,101,117</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" align=right>$</td> <td width=83 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" align=right>$</td> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;(146,148,765)</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 3px double" align=right>$</td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="FONT-SIZE:9pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;5,053,601</p></td></tr></table></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>The accompanying notes are an integral part of this statement.</p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-4</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <hr style=PAGE-BREAK-AFTER:always> <p style=MARGIN:0px><br>&nbsp;</p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; PADDING-LEFT:0px; MARGIN-TOP:0px; MARGIN-RIGHT:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>CONSOLIDATED STATEMENTS&nbsp;OF&nbsp;CASH&nbsp;FLOWS</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=492 align=left valign=bottom> <td align=right valign=bottom> <td width=98 align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 align=right valign=bottom /> </tr><tr> <td align=left valign=bottom> <td colspan=5 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p align=center>For the years ended October 31,</p></td></tr> <tr> <td align=left valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p align=center>2015</p></td> <td align=right valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <p align=center>2014</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>Reconciliation of net loss to net cash provided by (used in) operating activities:</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="MARGIN:0px; TEXT-INDENT:12px" align=left>Net loss</p></td> <td align=right valign=bottom>$</td> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;(1,379,043)</p></td> <td align=right valign=bottom> <td align=right valign=bottom>$</td> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;(9,606,314)</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Stock option compensation to employees and consultants</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="PADDING-TOP:0px; MARGIN:0in 4px 0px 0px; PADDING-RIGHT:0px" align=right>2,676,309 </p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,149,799 </p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Common stock issued to consultants </p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="PADDING-TOP:0px; MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>46,100</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84,698</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Amortization of patents</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>325,291</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="PADDING-TOP:0px; MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314,453</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Accretion of interest on patent acquisition obligations to interest expense</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>451,906</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385,770</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Loss on acquisition of common stock and warrants to purchase common stock</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>101,280</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Change in value of derivative liability</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592,945</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt </p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,699,022</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Accrued interest reversed on conversion of convertible debenture</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173,833</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Amortization of convertible debenture discount charge to interest expense</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634,267</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Impairment in value of &nbsp;investment in Videocon Industries Limited GDR<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,825 </p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Common stock issued to pay interest on convertible debentures</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61,778</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Common stock issued to acquire patent license</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="PADDING-BOTTOM:0px; MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,400</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Other</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,195</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38,225</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Change in operating assets and liabilities:</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400,000</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(225,000)</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="MARGIN:0px; TEXT-INDENT:12px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65,951)</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100,069</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="MARGIN:0px; TEXT-INDENT:12px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(868,661)</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27,044)</p></td></tr> <tr> <td width=492 height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royalties and contingent legal fees payable</p></td> <td align=right valign=bottom> <td width=98 height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(347,059)</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 height=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352,333</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue &nbsp;&nbsp;</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;( &nbsp;1,187,320)</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="MARGIN:0px; TEXT-INDENT:48px" align=left>Net cash provided by (used in) operating activities</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,363,367</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,379,261)</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="PADDING-LEFT:6px; MARGIN:0px; TEXT-INDENT:-6px" align=left>Cash flows from investing activities:</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="PADDING-LEFT:6px; MARGIN:0px; TEXT-INDENT:-6px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Disbursements to acquire short-term investments in certificates of deposit&nbsp;&nbsp;&nbsp;&nbsp;</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,900,000)</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,200,000)</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from maturities of short-term investments in certificates of deposit &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,000,000</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,700,000</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Purchase of property and equipment</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54,776)</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6,684)</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style=FONT-SIZE:10pt>Net cash provided by </font><font style=FONT-SIZE:10pt>(used in) </font><font style=FONT-SIZE:10pt>investing activities</font></p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45,224</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,506,684)</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>Cash flows from financing activities:</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of convertible debentures</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,500,000</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of common stock, net of expense</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,673,135</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercise of warrants to purchase common stock</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300,009</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercise of employee stock options</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44,635</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="PADDING-BOTTOM:0px; MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75,875</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Payments to acquire 92,232 shares of common stock and cancellation of warrants </p> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to purchase 16,000 shares of common stock</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right><br></p> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(445,253)</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style=MARGIN:0px align=right><br></p> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Payments to redeem convertible securities</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200,000)</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="MARGIN:0px; TEXT-INDENT:48px" align=left>Net cash (used in) provided by financing activities</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;(400,618)</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,349,019</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;</p></td> <td align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>Net increase in cash and cash equivalents </p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,007,973</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,463,074</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>Cash and cash equivalents at beginning of year</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;3,361,246</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;898,172</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>Cash and cash equivalents at end of year</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;4,369,219</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,361,246</p></td></tr> <tr> <td width=492 height=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left /></td> <td align=right valign=bottom> <td width=98 height=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 height=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom /> </tr><tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=left>Supplemental disclosure of non-cash investing and financing activities:</p></td> <td align=right> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right> <td align=right> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Non-cash patent acquisition</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;3,036,011</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Common stock issued to acquire patent license</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185,600</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Common stock issued upon conversion of debentures</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;2,735,349</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Fair value of debenture embedded conversion feature, at issuance</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;1,570,000</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Relative fair value of convertible debenture warrant, at issuance</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="PADDING-BOTTOM:0px; MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513,112</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Non-cash acquisition of 20,000,000 shares of common stock </p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;4,134,516</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;Common stock and preferred stock issued upon conversion of convertible</p></td> <td style=BORDER-BOTTOM:0px align=right valign=bottom> <td width=98 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td align=right valign=bottom> <td align=right valign=bottom> <td width=99 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;debentures due November 2016</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;5,229,641</p></td></tr> <tr> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left valign=bottom> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Cancellation of loan receivable from former affiliate</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right valign=bottom> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right valign=bottom>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;(5,000,000)</p></td></tr> <tr bgcolor=#cceeff> <td width=492 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=left> <p style=MARGIN:0px align=left>&nbsp;&nbsp;&nbsp;&nbsp;Cancellation of loan payable to former affiliate</p></td> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=98 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td align=right> <td style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" align=right>$</td> <td width=99 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" align=right> <p style="MARGIN:0px 4px 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;5,000,000</p></td></tr> <tr> <td align=left valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom> <td align=right valign=bottom /></tr></table></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center>The accompanying notes are an integral part of these statements.</p> <p style="MARGIN-BOTTOM:16px; MARGIN-TOP:0px"><br><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-5</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">1.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:-2px"><u>BUSINESS&nbsp;AND&nbsp;FUNDING</u></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px"><u>Description of Business</u></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>As used herein, <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>we,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>us,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>our,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> or <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ITUS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> means ITUS Corporation and its wholly-owned subsidiaries. &nbsp;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. &nbsp;In October of 2012 under the leadership of a new management team, the Company undertook a transformation process to recapitalize the Company, unencumber the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s assets, seek reparations from a previous joint development partner, change the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s name and ticker symbol, relocate the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s headquarters and modernize its systems, and monetize patented technologies developed by the Company, or acquired from third parties. In July of 2015, the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s stock was accepted for listing and began trading on the NASDAQ Capital Market. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In June of 2015, the Company announced the formation of a new subsidiary, Anixa Diagnostics Corporation, to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, Anixa entered into a collaborative research agreement &nbsp;with The Wistar Institute, the nation<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by Anixa and associated with solid tumors. In October of 2015, Anixa and Wistar announced very favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by Anixa, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted. &nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Over the next several quarters, we expect Anixa to be the primary focus of the Company. As part of our legacy operations, the Company has outsourced a small development project in connection with one of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s thin-film display technologies, and through certain of its subsidiary companies, the Company remains engaged in limited patent licensing activities in the areas of encryption, and advanced materials. &nbsp;We do not expect these activities to be a significant part of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ongoing operations.</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Over the past several quarters, our revenue has been derived from technology licensing and the sale of patented technologies, including in connection with the settlement of litigation. In addition to Anixa, the Company expects to make investments in and form new companies to develop additional emerging technologies.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><u>AUO Lawsuit and Settlement</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>On December 29, 2014, the Company and AUO Optronics Corporation (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) entered into a Settlement Agreement (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Settlement Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) and a Patent Assignment Agreement (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Patent Assignment Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> and together with the Settlement Agreement, the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Agreements<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) pursuant to which the Company received an aggregate of $9,000,000 from AUO. &nbsp;The Agreements were entered into to resolve a lawsuit filed by the Company against AUO, relating to the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s patented ePaper&#174; Electrophoretic Display, and Nano Field Emission Display (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>nFED<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) technologies.</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-6</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)><i>Background</i></font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>In May 2011, the Company entered into an Exclusive License Agreement (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>EPD License Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) and a License Agreement (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Nano Display License Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) with AUO (together the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO License Agreements<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;Under the EPD License Agreement, the Company provided AUO with an exclusive, non-transferable, worldwide license to its ePaper&#174; Electrophoretic Display (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>EPD<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) patents and technology, in connection with AUO jointly developing EPD products with the Company. &nbsp;Under the Nano Display License Agreement, the Company provided AUO with a non-exclusive, non-transferable, worldwide license to its Nano Field Emission Display patents and technology, in connection with AUO jointly developing nFED products with the Company. </font></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>On January 28, 2013, the Company terminated the AUO License Agreements due to numerous alleged material and continual breaches of the agreements by AUO. &nbsp;On January 28, 2013, the Company also filed a lawsuit in the United States District Court for the Northern District of California against AUO and E Ink Corporation in connection with the AUO License Agreements, alleging breach of contract, breach of the implied covenant of good faith and fair dealing, fraudulent inducement, unjust enrichment, unfair business practices, and other charges (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO/E Ink Lawsuit<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;In June 2013, the Company and AUO agreed to arbitrate the charges (the case against E Ink Corporation had been dismissed without prejudice) (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO/E Ink Arbitration<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>).</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)><i>The Agreements</i></font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>Pursuant to the Settlement Agreement, AUO paid the Company $2,000,000 in U.S. currency, net of any Taiwanese withholding taxes. The Settlement Agreement further provides that: </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>the Company will dismiss the AUO/E Ink Lawsuit and AUO/E Ink Arbitration, with prejudice;</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>the AUO License Agreements are terminated; </font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>AUO gives up all rights to the nFED Technology;</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>for a period of two years, the Company agrees not to initiate (whether on its own or through a third party) any patent infringement lawsuits against AUO or its affiliates alleging infringement by AUO<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s or AUO<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s affiliates products or services, for patents owned or controlled by the Company as of the date of the Settlement Agreement. &nbsp;Any potential damages for patent infringement will toll uninterrupted during this two year period. The prohibition does not apply to patents acquired by the Company after the date of the Settlement Agreement; and</font></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>each of AUO and the Company mutually released each other from all claims that either may have against the other in connection with the AUO License Agreements, including any claims relating to the ePaper&#174; Electrophoretic Display and nFED patents and technologies.</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-7</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>&nbsp;Pursuant to the Patent Assignment Agreement, AUO paid the Company $7,000,000 in U.S. currency, net of any Taiwanese withholding taxes in exchange for the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ePaper&#174; Electrophoretic Display patent portfolio for which AUO was previously the exclusive licensee, consisting of: </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>10 active U.S. patents and 1 U.S. pending patent application; and</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:72px"><font style=FONT-SIZE:10pt face=symbol lang=EN-US>&#183;</font></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>103 expired and/or abandoned U.S. and foreign patents and/or patent applications. </font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>In connection with the lawsuit and settlement, the Company incurred a total of approximately $3,604,000 of legal fees and litigation costs.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><u>Unwinding of Business Relationship and Interests with Videocon</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On August 29, 2014, the Company and CopyTele International Ltd., a wholly-owned subsidiary of the Company (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Subsidiary<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), terminated their business relationship (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Business Relationship<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) with Videocon Industries Limited (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Videocon<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) and Mars Overseas Limited, an affiliate of Videocon (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Mars<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> and together with the Company, the Subsidiary and Videocon, the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Parties<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;The Business Relationship began in November 2007 and related to a proposed joint development effort between the Company and Videocon to develop a certain Nano Field Emission Display technology (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Technology<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;In connection with the proposed joint venture, (i) the Company granted a non-transferable, worldwide license to Videocon for the Technology (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>License<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), (ii) the Subsidiary made a $5 million dollar loan to Mars (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Subsidiary Loan<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), (iii) Mars made an identical $5 million dollar loan to the Subsidiary (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Mars Loan<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> and together with the Subsidiary Loan, the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Loans<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), (iv) the Company sold to Mars 800,000 shares of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Shares<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) and (v) Global EPC Ventures Limited sold to the Company 1,495,845 global depository receipts of Videocon (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>GDRs<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). The Shares and GDRs were subsequently used to secure the Loans.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Because Videocon was unable to continue with its joint development responsibilities, the Technology was not jointly developed by the Parties. Accordingly, the Company and Videocon agreed to terminate the Business Relationship. In order to terminate the Business Relationship, the Parties entered into several agreements whereby: (i) the License was terminated, (ii) both of the Loans were canceled and (iii) the Shares and GDRs were exchanged for each other (collectively, the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Termination Transactions<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). The result of these Termination Transactions was to undo the initial transactions between the Parties that set forth the Business Relationship. Aside from this business relationship there is no other material relationship between the Parties. &nbsp;In accounting for the unwinding of this business relationship, the Company offset the two loans and then recorded its repurchased shares of common stock at the then current fair value of the GDRs and then retired and cancelled those shares.</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px"><u>Funding</u> </p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>In November 2013, the Company completed a private placement with a single institutional investor, pursuant to which the Company issued a $3,500,000 principal amount 6% convertible debenture due November 11, 2016. &nbsp;On September 9, 2014, the Company and the holder of the Convertible Debenture agreed to a transaction resulting in the conversion of the principal and accrued interest of the Convertible Debenture into 739,958 shares of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock, and the concurrent conversion of 639,159 of such shares of common stock into 3,500 shares of Series A Convertible Preferred Stock. &nbsp;For further details of this transaction see Note 5 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Convertible Debentures<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> herein.<br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-8</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In July 2014, the Company completed the sale of 640,000 shares of its common stock at the offering price of $6.25 per share. &nbsp;The net proceeds from this sale totaled approximately $3,673,000. &nbsp;See Note 6, <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> Equity <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Sale of Common Stock<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> for additional information regarding this transaction.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In October 2015, the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Company entered into an At Market Issuance Sales Agreement (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) with National Securities Corporation (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>National<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to create an at-the-market equity program under which it may sell up to $10,000,000 worth of its common stock (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Shares<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) from time to time through National, as sales agent. The Company has no obligation to sell any of the Shares, and may at any time suspend offers under the Agreement or terminate the Agreement. The Shares will be issued pursuant to the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s previously filed registration statement that was declared effective by the Securities and Exchange Commission (the "SEC") on September 18, 2015. As of October 31, 2015, no Shares have been sold under the Agreement.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>During the year ended October 31, 2015, cash provided by operating activities was approximately $1,363,000.&nbsp; Cash provided by investing activities was approximately $45,000, which resulted from the proceeds on maturity&nbsp;of certificates of deposit totaling $3,000,000 which was offset by the purchase of certificates of deposit totaling $2,900,000 and the purchase of property and equipment of approximately $55,000.&nbsp; Our cash used in financing activities was approximately $401,000, which resulted from approximately $445,000 for the repurchase of 92,232 shares of our common stock and the cancellation of warrants to purchase 16,000 shares of our common stock, offset by the proceeds from exercise of stock options of approximately $45,000. &nbsp;As a result, our cash, cash equivalents, and short-term investments at October 31, 2015 increased approximately $908,000 to approximately $6,769,000 from approximately $5,861,000 at the end of fiscal year 2014.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>Based on currently available information as of December 21, 2015, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to enable us to continue our business activities for at least 12 months.&nbsp; However, our projections of future cash needs and cash flows may differ from actual results. If current cash on hand, cash equivalents, short term investments and cash that may be generated from our business operations are insufficient to satisfy our liquidity requirements, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&nbsp; The sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in the downward adjustment of the exercise or conversion price of our outstanding securities. We can give no assurance that we will generate sufficient cash flows in the future to satisfy our liquidity requirements or sustain future operations, or that other sources of funding, such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&nbsp; If we cannot obtain such funding if needed or if we cannot sufficiently reduce operating expenses, we would need to curtail or cease some or all of our operations.&nbsp;</font></p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-9</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">2.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><u>SUMMARY&nbsp;OF&nbsp;SIGNIFICANT&nbsp;ACCOUNTING&nbsp;POLICIES</u></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px" align=justify><u>Basis of Presentation</u></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>The consolidated financial statements include the accounts of ITUS Corporation and its wholly owned subsidiaries. &nbsp;All intercompany transactions have been eliminated.</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;<u>Revenue Recognition</u> </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><u>Patent Licensing</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In certain instances, our past revenue arrangements have provided for the payment of contractually determined fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company.&nbsp;&nbsp;These arrangements typically include some combination of the following:&nbsp;&nbsp;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&nbsp;&nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&nbsp;&nbsp;Pursuant to the terms of these agreements, we had no further obligations. &nbsp;&nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><u>Display Technology Development and License Fees</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>We assessed the revenue guidance of Accounting Standards Codification (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) 605-25 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Multiple-Element Arrangements<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 605-25<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to determine whether&nbsp;multiple deliverables in our arrangements with AUO represent separate units of accounting.&nbsp; Under the AUO License Agreements, we&nbsp;received initial development and&nbsp;license fees of $3 million, of aggregate development and license fees of up to $10 million.&nbsp; The additional $7 million in development and license fees were to be payable upon completion of certain conditions for the respective technologies.&nbsp; We determined that the transfer of the licensed patents and technology and the effort involved in completion of the conditions for the respective technologies represent a single unit of accounting for each technology.&nbsp; Accordingly, using a proportional performance method, during the third quarter of fiscal year 2011 we began recognizing the $3 million initial development and license fees over the estimated periods that we expected to complete the conditions for the respective&nbsp;technologies. Each of the license agreements also provided for the basis for royalty payments on future production, if any, by AUO to the Company, which we have determined represent separate units of accounting.&nbsp;&nbsp;We did not recognize any portion of the $7 million of additional development and license fees or any royalty income under the AUO License Agreements. </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>As a result of the AUO/E Ink Lawsuit described above we did not record any display technology development and license fee revenue during the period from the fourth quarter of fiscal 2012 through the second quarter of fiscal year 2014 due to uncertainty as to our remaining performance obligations, if any. &nbsp;Based on our assessment performed for the third quarter of fiscal 2014, we determined that we have no further performance obligations under the AUO License Agreements and accordingly we recognized display technology development and license fee revenue of approximately $1,187,000, representing the balance of the initial $3 million payment received from AUO.</font></p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-10</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>On December 29, 2014, we settled our lawsuit against AUO and received gross proceeds of $9 million which was recognized as revenue in the first quarter of fiscal 2015 (see Note 1 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Business and Funding <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Description of Business - AUO Lawsuit and Settlement <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>).</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><u>Inventor Royalties and Contingent Legal Fees</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Inventor royalties and contingent legal fees are expensed in the consolidated statements of operations in the period that the related revenues are recognized.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Anixa Development Expenses</u></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>Anixa development expenses are expensed in the consolidated statements of operations in the period incurred.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Fair Value Measurements</u></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>ASC 820 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Fair Value Measurements and Disclosures<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 820<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) defines fair value, establishes a framework for measuring fair value under GAAP, and expands disclosures about fair value measurements. &nbsp;In accordance with ASC 820, we have categorized our financial assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. &nbsp;If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Financial assets and liabilities recorded in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px" align=justify>Level 1 - Financial instruments whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which we have the ability to access at the measurement date.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px" align=justify>Level 2 - Financial instruments whose values are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px" align=justify>Level 3 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Financial instruments whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. &nbsp;These inputs reflect management<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s own assumptions about the assumptions a market participant would use in pricing the instrument. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2015:</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=192 valign=bottom> <td width=90 valign=bottom> <td width=18 valign=bottom> <td width=84 valign=bottom> <td width=18 valign=bottom> <td width=77 valign=bottom> <td width=15 valign=bottom> <td width=104 valign=bottom /> </tr><tr> <td width=192 height=22 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;</p></td> <td width=90 height=22 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Level 1</p></td> <td width=18 height=22 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=84 height=22 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Level 2</p></td> <td width=18 height=22 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=77 height=22 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Level 3</p></td> <td width=15 height=22 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=104 height=22 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Total</p></td></tr> <tr bgcolor=#cceeff> <td width=192 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Money market funds <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Cash &nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;and cash equivalents</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=77 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=104 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td></tr> <tr> <td width=192 height=42 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Certificates of deposit -</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Short term investments</p></td> <td width=90 height=42 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right>-</p></td> <td width=18 height=42 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=84 height=42 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><font style=FONT-SIZE:11pt>2,400,000</font></p></td> <td width=18 height=42 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=77 height=42 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right>-</p></td> <td width=15 height=42 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=104 height=42 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>2,400,000 </p></td></tr> <tr bgcolor=#cceeff> <td width=192 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>Total financial assets</p></td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td width=84 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>$&nbsp;&nbsp;&nbsp; 2,400,000</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=77 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=104 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,867,967</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-11</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2014:</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=192 valign=bottom> <td width=90 valign=bottom> <td width=18 valign=bottom> <td width=84 valign=bottom> <td width=18 valign=bottom> <td width=77 valign=bottom> <td width=15 valign=bottom> <td width=104 valign=bottom /> </tr><tr> <td width=192 height=22 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;</p></td> <td width=90 height=22 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Level 1</p></td> <td width=18 height=22 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=84 height=22 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Level 2</p></td> <td width=18 height=22 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=77 height=22 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Level 3</p></td> <td width=15 height=22 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td> <td width=104 height=22 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Total</p></td></tr> <tr bgcolor=#cceeff> <td width=192 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Money market funds <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Cash &nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;and cash equivalents</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=77 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=104 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td></tr> <tr> <td width=192 height=42 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Certificates of deposit -</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Short term investments</p></td> <td width=90 height=42 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right>-</p></td> <td width=18 height=42 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=84 height=42 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><font style=FONT-SIZE:11pt>2,500,000</font></p></td> <td width=18 height=42 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=77 height=42 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right>-</p></td> <td width=15 height=42 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=104 height=42 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>2,500,000</p></td></tr> <tr bgcolor=#cceeff> <td width=192 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>Total financial assets</p></td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td width=84 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>$&nbsp;&nbsp;&nbsp;&nbsp;2,500,000</p></td> <td width=18 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=77 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=104 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,655,964</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2015:</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=228> <td width=28> <td width=25> <td width=12> <td width=25> <td width=25> <td width=12> <td width=14> <td width=86> <td width=12> <td width=14> <td width=87 /> </tr><tr> <td width=228 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=54 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Level 1</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=51 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Level 2</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=100 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Level 3</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=102 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Total</p></td></tr> <tr> <td width=228 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p></td> <td width=28 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td></tr> <tr bgcolor=#cceeff> <td width=228 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Patent acquisition obligation</p></td> <td width=28 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>-</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>-</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$ &nbsp;3,688,187</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;$ &nbsp;3,688,187</p></td></tr></table></p> <p style=TEXT-INDENT:48px>The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2014:</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:11pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=228> <td width=28> <td width=25> <td width=12> <td width=25> <td width=25> <td width=12> <td width=14> <td width=86> <td width=12> <td width=14> <td width=87 /> </tr><tr> <td width=228 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=54 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Level 1</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=51 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Level 2</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=100 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Level 3</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=102 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Total</p></td></tr> <tr> <td width=228 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p></td> <td width=28 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td></tr> <tr bgcolor=#cceeff> <td width=228 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Patent acquisition obligation</p></td> <td width=28 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>-</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>-</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;$ &nbsp;3,236,281</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;&nbsp;$ &nbsp;3,236,281</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table sets forth a summary of the changes in the fair value of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Level 3 financial liabilities that are measured at fair value on a recurring basis:</p>&nbsp; <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-12</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=485 valign=bottom> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid" align=right valign=bottom>&nbsp; <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=center>For the two <br>years ended <br>October 31, <br>2015</p></td></tr> <tr bgcolor=#cceeff> <td width=485 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=justify><u>Patent acquisition obligation:</u></p></td> <td> <td width=109 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:6px" align=right>&nbsp;</p></td></tr> <tr> <td width=485 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=justify>Balance October 31, 2013</p></td> <td valign=bottom><font style=FONT-SIZE:11pt>$</font></td> <td width=109 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr> <tr bgcolor=#cceeff> <td width=485 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=justify>Initial fair value</p></td> <td> <td width=109 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,850,511</p></td></tr> <tr> <td width=485 height=8 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=justify>Accretion of interest on patent obligation</p></td> <td style="BORDER-BOTTOM:#000000 1px solid" valign=bottom>&nbsp; </td> <td width=109 height=8 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385,770</p></td></tr> <tr bgcolor=#cceeff> <td width=485 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=justify>Balance October 31, 2014</p></td> <td> <td width=109 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,236,281</p></td></tr> <tr> <td width=485 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=justify>Accretion of interest on patent obligation</p></td> <td style="BORDER-BOTTOM:#000000 1px solid" valign=bottom>&nbsp; </td> <td width=109 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451,906</p></td></tr> <tr bgcolor=#cceeff> <td width=485 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=justify>Balance October 31, 2015</p></td> <td style="BORDER-BOTTOM:#000000 3px double"><font size=3>$</font></td> <td width=109 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,688,187</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our non-financial assets that are measured on a non-recurring basis include our property and equipment which are measured using fair value techniques whenever events or changes in circumstances indicate a condition of impairment exists. &nbsp;The estimated fair value of prepaid expenses, accounts payable and accrued expenses approximates their individual carrying amounts due to the short term nature of these measurements. &nbsp;Cash and cash equivalents are stated at carrying value which approximates fair value.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; PADDING-BOTTOM:0px; MARGIN:0px; TEXT-INDENT:0px" align=justify><u>Cash and Cash Equivalents</u></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Cash equivalents consists of highly liquid, short term investments with original maturities of three months or less when purchased.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Short-term Investments</u></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>At October 31, 2015 and 2014, we had certificates of deposit with maturities greater than 90 days when acquired of $2,400,000 and $2,500,000, respectively, that were classified as short-term investments and reported at fair value. &nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><u>Patents</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our only identifiable intangible assets are patents and patent rights. &nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. &nbsp;Patent acquisition costs capitalized during the years ended October 31, 2015 and 2014, was approximately $-0- and $3,036,000, respectively. &nbsp;We recorded patent amortization expense of approximately $325,000 and $314,000 during the years ended October 31, 2015 and 2014, respectively.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><u>Investment Securities</u></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>We classify our investment securities as available-for-sale. &nbsp;Available-for-sale securities are recorded at fair value. &nbsp;Unrealized gains and losses, net of the related tax effect, on available-for-sale securities are excluded from earnings and are reported as a component of accumulated other comprehensive income (loss) until realized. &nbsp;Realized gains and losses from the sale of available-for-sale securities are determined on a specific identification basis. &nbsp;Dividend and interest income are recognized when earned.<br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-13</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>We monitor the value of our investments for indicators of impairment, including changes in market conditions and the operating results of the underlying investment that may result in the inability to recover the carrying value of the investment. &nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><u>Convertible Instruments</u> </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company accounts for hybrid contracts that feature conversion options in accordance with applicable generally accepted accounting principles (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>GAAP<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>).&nbsp; ASC &nbsp;815 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Derivatives and Hedging Activities,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 815<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b)&nbsp;the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c)&nbsp;a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company accounts for convertible instruments, when the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, in accordance with ASC 470-20 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Debt with Conversion and Other Options<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 470-20<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). Under ASC 470-20, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company accounts for convertible instruments (when the Company has determined that the embedded conversion options should be bifurcated from their host instruments) in accordance with ASC 815.&nbsp;&nbsp;Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract are allocated to the fair value of the derivative. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The conversion features of the convertible debentures issued in January 2013 and November 2013 qualified as embedded derivative instruments and were bifurcated from the host convertible debentures.&nbsp; Derivative liabilities are initially recorded at fair value and are then re-valued at each reporting date, with changes in fair value recognized in earnings during the reporting period.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><u>Common Stock Purchase Warrants</u></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company classifies as equity any contracts that (i)&nbsp;require physical settlement or net-share settlement or (ii) provides a choice of net-cash settlement or settlement in the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s own shares (physical settlement or net-share settlement)&nbsp;providing that such contracts are indexed to the Company's own stock as defined in ASC 815-40 "Contracts in Entity's Own Equity". The Company classifies as assets or liabilities any contracts that (i)&nbsp;require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s control) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement).&nbsp;&nbsp;The Company assesses classification of common stock purchase warrants and other free standing derivatives at each reporting date to determine whether a change in classification between assets and liabilities or equity is required.<br><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-14</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Income Taxes</u></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>We recognize deferred tax assets and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. &nbsp;A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px"><u>Stock-Based Compensation</u></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>We maintain stock equity incentive plans under which we may grant non-qualified stock options, incentive stock options, stock appreciation rights, stock awards, performance and performance-based awards, or stock units to employees, non-employee directors and consultants.</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><u>Stock Option Compensation Expense</u> </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We account for stock options granted to employees and directors using the accounting guidance in ASC 718 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Stock Compensation<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 718<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;In accordance with ASC 718, we estimate the fair value of service based options and performance based options on the date of grant, using the Black-Scholes pricing model. &nbsp;For options vesting if the trading price of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock achieves a defined target, we use a Monte Carlo simulation in estimating the fair value at grant date. We recognize compensation expense for stock option awards over the requisite or implied service period of the grant. &nbsp;With respect to performance based awards, compensation expense is recognized when the performance target is deemed probable. &nbsp;We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $2,192,000 and $2,128,000, during the years ended October 31, 2015 and 2014, respectively. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Included in stock-based compensation cost for employees and directors during the years ended October 31, 2015 and 2014 was approximately $2,092,781 and $1,426,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but not yet vested. &nbsp;As of October 31, 2015, there was unrecognized compensation cost related to non-vested stock options granted to employees and directors, related to service based options of approximately $432,000 which will be recognized over a weighted-average period of 1.1 years. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We account for stock options granted to consultants using the accounting guidance included in ASC 505-50 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Equity-Based Payments to Non-Employees<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 505-50<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;In accordance with ASC 505-50, we estimate the fair value of service based stock options and performance based options at each reporting period, using the Black-Scholes pricing model. &nbsp;For options vesting if the trading price of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock achieves a defined target we estimate the fair value at each reporting period using a Monte Carlo simulation. &nbsp;We recognize compensation expense for service based stock options and options subject to market conditions over the requisite or implied service period of the grant. &nbsp;For performance based awards, compensation expense is recognized when the performance target is achieved.<br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-15</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We recorded consulting expense, related to stock options granted to consultants, during the years ended October 31, 2015 and 2014 of approximately $484,000 and $1,022,000, respectively. Stock-based consulting expense for the years ended October 31, 2015 and 2014 includes approximately $484,000 and $964,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of October 31, 2015, there was no unrecognized consulting expense related to non-vested stock options granted to consultants. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><u>Fair Value Determination</u> &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We use the Black-Scholes pricing model in estimating the fair value of stock options which vest over a specific period of time or upon achieving performance targets. &nbsp;To determine the weighted average fair value of stock options on the date of grant, employees and directors are included in a single group. &nbsp;The fair value of stock options granted to consultants is determined on an individual basis. &nbsp;The stock options we granted during the year ended October 31, 2015 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months. The stock options we granted during the year ended October 31, 2014 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months, options with 5-year terms which vest immediately and options with 10-year terms which vest upon achievement of performance milestones. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following weighted average assumptions were used in estimating the fair value of stock options granted during the years ended October 31, 2015 and 2014: </p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=280 valign=bottom> <td width=78 valign=bottom> <td width=78 valign=bottom /> </tr><tr> <td valign=bottom> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>For the Year <br>Ended October 31,</font></p></td></tr> <tr> <td valign=bottom> <td style="BORDER-BOTTOM:#000000 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>2015</font></p></td> <td style="BORDER-BOTTOM:#000000 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>2014</font></p></td></tr> <tr bgcolor=#cceeff> <td width=280 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Weighted average fair value at grant date</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$3.09</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$5.75</p></td></tr> <tr> <td width=280 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Valuation assumptions:</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=280 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected life ( years) </p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;&nbsp;5.75</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>5.80</p></td></tr> <tr> <td width=280 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected volatility</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>117.8%</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>115.3%</p></td></tr> <tr bgcolor=#cceeff> <td width=280 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risk-free interest rate</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;2.01%</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;1.82%</p></td></tr> <tr> <td width=280 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected dividend yield</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>0</p></td> <td width=78 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>0</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The expected term of stock options represents the weighted average period the stock options are expected to remain outstanding. &nbsp;We use the simplified method to determine expected term. &nbsp;The simplified method was adopted since we do not believe that historical experience is representative of future performance because of the impact of the changes in our operations and the change in terms from historical options which vested immediately to terms including vesting periods of up to three years. &nbsp;Under the Black-Scholes pricing model, we estimated the expected volatility of our shares of common stock based upon the historical volatility of our share price over a period of time equal to the expected term of the options. &nbsp;We estimated the risk-free interest rate based on the implied yield available on the applicable grant date of a U.S. Treasury note with a term equal to the expected term of the underlying grants. &nbsp;We made the dividend yield assumption based on our history of not paying dividends and our expectation not to pay dividends in the future.</p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-16</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Under ASC 718, the amount of stock-based compensation expense recognized is based on the portion of the awards that are ultimately expected to vest. &nbsp;Accordingly, if deemed necessary, we reduce the fair value of the stock option awards for expected forfeitures, which are forfeitures of the unvested portion of surrendered options. &nbsp;Based on our historical experience and future expectations, we have not reduced the amount of stock-based compensation expenses for anticipated forfeitures.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We will reconsider use of the Black-Scholes pricing model if additional information becomes available in the future that indicates another model would be more appropriate. &nbsp;If factors change and we employ different assumptions in the application of ASC 718 in future periods, the compensation expense that we record under ASC 718 may differ significantly from what we have recorded in the current period.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Net&nbsp;Loss&nbsp;Per&nbsp;Share of Common Stock</u> </p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>In accordance with ASC 260, <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Earnings Per Share<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>, basic net loss per common share (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Basic EPS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) is computed by dividing net loss by the weighted average number of common shares outstanding. &nbsp;Diluted net loss per common share (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Diluted EPS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) is computed by dividing net loss by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. &nbsp;Diluted EPS for all years presented is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. &nbsp;For this reason, excluded from the calculation of Diluted EPS for the years ended October 31, 2015 and 2014, were options to purchase 2,672,471 and 3,002,550 shares, respectively, warrants to purchase 1,028,931 shares and 1,044,931 shares, respectively, preferred stock convertible into 739,958 shares.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Use of Estimates</u> </p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. &nbsp;Estimates and assumptions are used for, but not limited to, determining stock-based compensation, asset impairment evaluations, tax assets and liabilities, license fee revenue, the allowance for doubtful accounts, depreciation lives and other contingencies. &nbsp;Actual results could differ from those estimates.</p> <p style="FONT-SIZE:11pt; MARGIN:0px"><u>Effect of Recently Issued Pronouncements</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-09<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), Revenue from Contracts with Customers. &nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &nbsp;This standard update is effective for&nbsp;interim and annual&nbsp;reporting periods beginning after December 15,&nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&nbsp;and related disclosures.<br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-17</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In June 2014, the FASB issued Accounting Standards Update 2014-12 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-12<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), Compensation <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Stock Compensation. &nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In August 2014, the FASB issued Accounting Standards Update 2014-15 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-15<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;This amendment requires management to assess an entity<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In April 2015, the FASB issued Accounting Standards Update 2015-03 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2015-03<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. Adoption of this standard is required for interim and annual periods beginning after December 15, 2015 and is to be applied retrospectively. We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px">In November 2015, the FASB issued Accounting Standards Update 2015-17 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2015-17<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Concentration of Credit Risks</u></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Financial instruments that potentially subject us to concentrations of credit risk are cash equivalents, short-term investments and accounts receivable. &nbsp;Cash equivalents are primarily highly rated money market funds. Short-term investments are certificates of deposit within federally insured limits. Where applicable, management reviews our accounts receivable and other receivables for potential doubtful accounts and maintains an allowance for estimated uncollectible amounts. Our policy is to write-off uncollectable amounts at the time it is determined that collection will not occur. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Three licensees accounted for 53%, 37% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2015. Four licensees accounted for 22%, 16%, 14% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2014.<br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-18</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">3.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><u>INVESTMENTS</u></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Short-term Investments </u></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>At October 31, 2015 and October 31, 2014, we had of certificates of deposit totaling $2,400,000 and $2,500,000, respectively. &nbsp;Terms of the certificates of deposit generally range from greater than three months to nine months.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Investment in Videocon </u></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Our investment in Videocon was classified as an "available-for-sale security" and reported at fair value, with unrealized gains and losses excluded from operations and reported as component of accumulated other comprehensive income (loss) in shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> equity. &nbsp;The original cost basis of $16,200,000 was determined using the specific identification method. &nbsp;The fair value of the Videocon GDRs is based on the price on the Luxembourg Stock Exchange, which price is based on the underlying price of Videocon<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s equity shares which are traded on stock exchanges in India with prices quoted in rupees. &nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>ASC 320 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Investments-Debt and Equity Securities<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASC 320<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) and SEC guidance on other than temporary impairments of certain investments in equity securities requires an evaluation to determine if the decline in fair value of an investment is either temporary or other than temporary. &nbsp;Unless evidence exists to support a realizable value equal to or greater than the carrying cost of the investment, an other than temporary impairment should be recorded. &nbsp;At each reporting period we assessed our investment in Videocon to determine if a decline that is other than temporary has occurred. &nbsp;In evaluating our investment in Videocon during fiscal year 2014, we determined that based on both the duration and the continuing magnitude of the market price decline compared to the carrying cost, a write-down of the investment of approximately $63,000 should be recorded and a new cost basis of approximately $4,135,000 should be established. &nbsp;On August 29, 2014, we exchanged the Videocon GDRs for 800,000 shares of our common stock, see Note 1 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Business and Funding <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Description of Business <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Unwinding of Business Relationship and Interest with Videocon<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>. &nbsp;On a cumulative basis, we have recorded other than temporary impairments in our investment in Videocon GDRs of approximately $12,065,000. &nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The fair value of the Videocon GDRs on August 29, 2014, the date of disposition, was follows:</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=356 valign=bottom> <td width=15 valign=bottom> <td width=96 valign=bottom /> </tr><tr> <td valign=bottom> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>Investment in <br>Videocon</font></p></td></tr> <tr bgcolor=#cceeff> <td width=356 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>Fair Value as of October 31, 2013</p></td> <td width=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=justify>&nbsp;<font style=FONT-SIZE:11pt>$</font></p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp; &nbsp;4,197,341</p></td></tr> <tr> <td width=356 height=17 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;&nbsp;Other than temporary impairment</p></td> <td width=15 height=17 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=justify>&nbsp;</p></td> <td width=96 height=17 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62,825)</p></td></tr> <tr bgcolor=#cceeff> <td width=356 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:11pt>Fair value of Videocon GDRs on date of disposition</font></p></td> <td width=15 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom><font style=FONT-SIZE:11pt>&nbsp;</font>$</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;4,134,516</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">4.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><u>ACCOUNTS PAYABLE AND ACCRUED EXPENSES</u></p> <p style="FONT-SIZE:11pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify>Accounts payable and accrued liabilities consist of the following as of:</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-19</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px align=justify><br><br>&nbsp;</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=307 valign=bottom> <td valign=bottom> <td width=94 align=right valign=bottom> <td valign=bottom> <td valign=bottom> <td width=94 align=right valign=bottom /> </tr><tr> <td valign=bottom> <td colspan=5 style="BORDER-BOTTOM:#000000 1px solid" align=right valign=bottom> <p align=center><font style=FONT-SIZE:11pt>October 31,</font></p></td></tr> <tr> <td valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid" align=right valign=bottom> <p align=center><font style=FONT-SIZE:11pt>2015</font></p></td> <td valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid" align=right valign=bottom> <p align=center><font style=FONT-SIZE:11pt>2014</font></p></td></tr> <tr bgcolor=#cceeff> <td width=307 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Accounts payable</p></td> <td><font style=FONT-SIZE:11pt>$</font></td> <td width=94 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;374,703</p></td> <td> <td><font style=FONT-SIZE:11pt>$</font></td> <td width=94 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;540,179</p></td></tr> <tr> <td width=307 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Payroll and related expenses</p></td> <td valign=bottom> <td width=94 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td valign=bottom> <td valign=bottom> <td width=94 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372,753</p></td></tr> <tr bgcolor=#cceeff> <td width=307 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Accrued litigation expense, consulting and other</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;professional fees</p></td> <td> <td width=94 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td> <td> <td width=94 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320,493</p></td></tr> <tr> <td width=307 height=15 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Accrued other</p></td> <td style="BORDER-BOTTOM:#000000 1px solid" valign=bottom>&nbsp;</td> <td width=94 height=15 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,062</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:#000000 1px solid" valign=bottom>&nbsp;</td> <td width=94 height=15 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,001</p></td></tr> <tr bgcolor=#cceeff> <td width=307 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td style="BORDER-BOTTOM:#000000 3px double"><font style=FONT-SIZE:11pt>$</font></td> <td width=94 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;380,765</p></td> <td> <td style="BORDER-BOTTOM:#000000 3px double"><font style=FONT-SIZE:11pt>$</font></td> <td width=94 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=right valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>1,249,426</p></td></tr></table></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px"><br>5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>CONVERTIBLE DEBENTURES</u></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:16px"><u>Convertible Debenture due January 2015</u></p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In January 2013, the Company received aggregate gross proceeds of $1,765,000 from the issuance of 8% convertible debentures due January 25, 2015 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Convertible Debenture due January 2015<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), of which $250,000 was received from our current President, Chief Executive Officer and director, and two other directors of the Company.&nbsp;The debentures&nbsp;paid interest quarterly and&nbsp;were convertible into shares of our common stock at a conversion price of $3.75 per share on or before January 25, 2015.&nbsp;The embedded conversion feature&nbsp;had certain weighted average anti-dilution protection provisions which would be triggered if the Company issues its common stock, or certain common stock equivalents, (as defined) at a price below $3.75 per share.&nbsp; The Company had the option to pay any interest on the debentures in common stock based on the average of the closing prices of&nbsp; our common stock for the 10 trading days immediately preceding the interest payment date.&nbsp;The Company also had the option to pay any interest on the debentures with additional debentures.&nbsp; The Company&nbsp;had the right to&nbsp;prepay the debentures at any time without penalty upon 30 days prior notice but only if the sales price of the common stock is at least $7.50 for 20 trading days in any 30-day trading period ending no more than 15 days before the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s prepayment notice.&nbsp; In conjunction with the issuance of the debentures, the Company issued warrants (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Convertible Debenture Warrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to purchase 235,310 shares of its common stock.&nbsp; Each warrant grants the holder the right to purchase one share of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock at the purchase price of $7.50 per share on or before January 25, 2016.&nbsp;The Convertible Debenture Warrant may be exercised on a cashless basis only if there is not an effective registration statement covering such shares.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company determined, based upon authoritative guidance, that the conversion feature embedded within the Convertible Debenture due January 2015 should be valued separately and bifurcated from the host instrument and accounted for as a free-standing derivative liability and that the Convertible Debenture Warrant should also be valued and accounted for separately as an equity instrument.&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company determined the fair value of each of the three elements included within the Convertible Debenture due January 2015.&nbsp; The debenture portion (without the conversion feature) bearing interest at 8% was determined to be a debt instrument with a fair value of $1,490,000.&nbsp; The embedded conversion feature was determined to be a derivative liability with a fair value of $1,180,000.&nbsp; The Convertible Debenture Warrant was determined to be an equity instrument with a fair value of $370,000.&nbsp; The Company determined the fair value of each of these instruments based upon the assumptions and methodologies as discussed below.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-20</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Since the Convertible Debenture Warrant was determined to be an equity instrument, the Company first computed the relative fair value of the Convertible Debenture due January 2015 (including the value of its conversion feature) with a fair value of $2,670,000 and the Convertible Debenture Warrant with a fair value of $370,000.&nbsp;&nbsp; Accordingly, the relative fair value of the Convertible Debenture Warrant and the Convertible Debenture due January 2015 (including the value of its conversion feature) was determined to be $214,819 and $1,550,181, respectively.&nbsp; Then, from the relative fair value of the Convertible Debenture due January 2015, the Company deducted in full the fair value of the embedded conversion feature of $1,180,000.&nbsp;&nbsp; The discount of $1,394,819 applied to the face value of the Convertible Debenture due January 2015 consists of the sum of the relative fair value of the Convertible Debenture Warrant of $214,819 and the full value of the bifurcated conversion option derivative liability of $1,180,000.&nbsp; The Convertible Debenture due January 2015 was recorded at a net value of $370,181, representing its face value of $1,765,000, less aggregate discounts for the derivative liability and warrant of $1,394,819, as summarized in the table below.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=256 valign=bottom> <td width=8 valign=bottom> <td width=87 valign=bottom> <td width=6 valign=bottom> <td width=6> <td width=96 valign=bottom /> </tr><tr> <td width=256 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><font style=FONT-SIZE:11pt>Face value of Convertible Debenture due January 2015</font></p></td> <td width=8 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right>&nbsp;</p></td> <td width=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>$</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>1,765,000</p></td></tr> <tr> <td width=256 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Fair value of embedded conversion feature</p></td> <td width=8 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>$</p></td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>1,180,000</p></td> <td width=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td></tr> <tr> <td width=256 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Relative fair value of Convertible Debenture Warrant</p></td> <td width=8 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=87 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>214,819</p></td> <td width=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td></tr> <tr> <td width=256 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Discount</p></td> <td width=8 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>$</p></td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>1,394,819</p></td> <td width=6 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=6 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>(1,394,819)</p></td></tr> <tr> <td width=256 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Proceeds attributable to the Convertible Debenture due January 2015</p></td> <td width=8 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=87 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=6 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br>&nbsp;</p></td> <td width=6 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>370,181</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Accordingly, the Company accounted for the full amount of the discount as an offset to the Convertible Debenture due January 2015, amortizable under the effective interest method over the term of the debenture. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due January 2015 using a Monte Carlo simulation, with the observable assumptions as provided in the table below.&nbsp;The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=363> <td width=13> <td width=83 /> </tr><tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;&nbsp;</p></td> <td width=97 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>January 25,</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>2013</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock price on valuation date</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>5.25</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Conversion price</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>3.75</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock premium for liquidity</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>57%</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Term (years)</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>2.00</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expected volatility</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>110%</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Weighted average risk-free interest rate</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>0.3%</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Trials</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>100,000</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Aggregate fair value</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>1,180,000</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px"><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-21</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company calculated the fair value of the Convertible Debenture Warrant issued on January 25, 2013 using the Black-Scholes option pricing model with the following assumptions:&nbsp;</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=363> <td width=13> <td width=76 /> </tr><tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=90 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>January 25,</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>2013</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock price on valuation date</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>5.25</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Exercise price</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>7.50</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock premium for liquidity</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>38%</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Term (years)</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>3.00</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Warrant exercise trigger price</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>41%</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expected volatility</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>95%</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Weighted average risk-free interest rate</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>0.4%</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Number of warrants</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=76 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;5,882,745</p></td></tr> <tr> <td width=363 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Aggregate fair value</p></td> <td width=13 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=76 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;370,000</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company determined the fair value of the Convertible Debenture due January 2015 by preparing an analysis of discounted cash flows, using a discount rate of 18.6%, which the Company deemed appropriate given the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s current risk scenarios.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In connection with the Convertible Debenture due January 2015, the Company provided compensation to the placement agent consisting of a cash fee of $41,400 and a warrant for the purchase of 11,041 shares of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Placement Agent Warrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>).&nbsp; The terms of the Placement Agent Warrant are identical to the terms of the Convertible Debenture Warrant, and using Black-Scholes, upon issuance, was determined to have a fair value of $17,360.&nbsp;Assumptions for the valuation of the Placement Agent Warrant were identical to those provided above for the Convertible Debenture Warrant.&nbsp; In addition, issuance costs included legal fees of approximately $25,000.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The sum of the issuance costs was $83,760, and this cost was allocated as provided below:</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=169> <td width=14> <td width=177> <td width=12> <td width=19> <td width=67 /> </tr><tr> <td width=169 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Attributable to:</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>&nbsp;</p></td> <td width=177 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Accounting Treatment</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>&nbsp;</p></td> <td width=87 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=center><br></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Amount</p></td></tr> <tr> <td width=169 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">The embedded conversion feature (derivative)</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=177 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expensed as incurred</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>55,999</p></td></tr> <tr> <td width=169 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">The 8% Convertible Debenture Warrant</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=177 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Charged to additional paid-in capital</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>10,194</p></td></tr> <tr> <td width=169 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=177 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td></tr> <tr> <td width=169 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">The 8% Convertible Debenture</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=177 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=19 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=67 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>17,567</p></td></tr> <tr> <td width=169 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Total</p></td> <td width=14 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=177 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=12 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=19 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=67 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>83,760</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In connection with the issuance of the Convertible Debenture due January 2015, on April 24, 2013, the Company prepared and filed a registration statement registering for resale the shares of its common stock which may be issued upon the conversion of the debenture consistent with the terms and conditions of the registration rights agreement the Company entered into with the holders of the registrable shares listed above. The registration statement was declared effective by the SEC on June 19, 2013.</p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-22</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company has agreed to maintain the effectiveness of the registration statement through the earlier of three years from the date of the issuance of the Convertible Debenture due January 2015 or until Rule 144 of the Securities Act is available to the holders to allow them to sell all of their registrable securities thereunder.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>The derivative liability related to the embedded conversion feature was revalued at each reporting period as well as on the date of all conversions, as discussed, below.&nbsp; </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>As of October 31, 2013, the Company determined the fair value of the derivative liability to be $540,000, and accordingly, during the year ended October 31, 2013, the Company recorded a gain on the change in the fair value of the derivative liability of approximately $475,000. &nbsp;&nbsp;&nbsp;As of October 31, 2014, the Company determined the fair value of the derivative liability to be $-0-, as the full value of the Convertible Debenture due January 2015 was converted and/or repaid in full during the year ended October 31, 2014 and accordingly, during the year ended October 31, 2014, the Company recorded a loss on the change in the fair value of the derivative of approximately $1,131,000. &nbsp;&nbsp;</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>As of October 31, 2013, the Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due January 2015 using a Monte Carlo simulation, with the observable assumptions as provided in the table below. &nbsp;The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. &nbsp;Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp; Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;&nbsp;</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=380> <td width=13> <td width=67 /> </tr><tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=80 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>October 31,</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>2013</p></td></tr> <tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock price on valuation date</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style=MARGIN:0px align=right><br></p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875</p></td></tr> <tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Conversion price</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75</p></td></tr> <tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock premium for liquidity</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>42%</p></td></tr> <tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Term (years)</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>1.25</p></td></tr> <tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expected volatility</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>115%</p></td></tr> <tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Weighted average risk-free interest rate</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>0.3%</p></td></tr> <tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Trials</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align=right><br></p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>100,000</p></td></tr> <tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Aggregate fair value</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px">$ &nbsp;540,000</p></td></tr> <tr> <td width=380 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=13 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p></td> <td width=67 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>The fair value of the derivative liability associated with the conversions and repayments of the Convertible Debenture due January 2015 was approximately $1,671,000 immediately prior to the conversions and repayments.</font><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-23</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>As of April 30, 2014, the Convertible Debenture due January 2015 was extinguished in full.&nbsp;&nbsp;However, the Company needed to determine the fair value of the derivative liability for the embedded conversion feature immediately prior to the conversion, in order to determine the change in the fair value of the derivative for the period.&nbsp;The Company determined to measure the derivative immediately prior to the conversion at its intrinsic value, since this method most fairly measured the value of the derivative liability.&nbsp;The intrinsic value computation is provided below.&nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=426> <td width=6> <td width=83 /> </tr><tr> <td width=426 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;&nbsp;</p></td> <td width=90 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>April 30,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>2014</p></td></tr> <tr> <td width=426 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price used for valuation</p></td> <td width=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>8.50</p></td></tr> <tr> <td width=426 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=left>266.68 shares issued per $1,000 face value</p></td></tr> <tr> <td width=426 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment</p></td> <td width=6 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=83 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>1,456,797</p></td></tr> <tr> <td width=426 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>The amortization of debt discount related to the Convertible Debenture due January 2015 was approximately $-0- and $233,000, for the years ended October 31, 2015 and 2014, respectively.</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>During the year ended October 31, 2013, holders of $325,000 and $5,878 of principal and interest, respectively, of the Convertible Debenture due January 2015, converted their holdings into an aggregate of 86,671 and 805 shares of Common Stock.&nbsp; During the year ended October 31, 2014, holders of $1,240,000 and $9,000 of principal and interest, respectively, of the Convertible Debenture due January 2015, converted their holdings into an aggregate of 330,683 and 1,185 shares of common stock and holders of $200,000 of principal of the Convertible Debenture due January 2015 consented to prepayment (without conversion) of obligations to them under the instrument<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s prepayment provisions. During the year ended October 31, 2014, in connection with these conversions and prepayments, the Company recorded losses on extinguishment of debt in the amount of $482,915.&nbsp; These losses represent the excess of the fair value of Common Stock on the date of conversion over the net book value of the debt on the date of conversion.&nbsp; Since the conversion feature on the Convertible Debenture due January 2015 was determined to be a derivative liability, the net book value includes both the value of the debt, net of discount, and the portion of the derivative liability related to its conversion feature. &nbsp;</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>The loss on extinguishment of debt was calculated as follows:</font></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=372> <td width=9> <td width=79 /> </tr><tr> <td width=372 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=right>&nbsp;</p></td> <td width=88 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>Year Ended</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>October 31,</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>2014</p></td></tr> <tr> <td width=372 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Face value of debt converted</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=79 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=center>&nbsp;&nbsp;1,440,000</p></td></tr> <tr> <td width=372 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Less: discount</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=79 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align=center>&nbsp;&nbsp;&nbsp;&nbsp;(658,232)</p></td></tr> <tr> <td width=372 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Plus: fair value of derivative liability</p></td> <td width=9 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=79 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=center>&nbsp;&nbsp;1,670,704</p></td></tr> <tr> <td width=372 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Net book value of debt converted</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=79 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=center>&nbsp;&nbsp;2,452,472</p></td></tr> <tr> <td width=372 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Fair value of common stock issued</p></td> <td width=9 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td> <td width=79 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=center>&nbsp;&nbsp;2,935,387</p></td></tr> <tr> <td width=372 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Loss on extinguishment of debt</p></td> <td width=9 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td> <td width=79 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;&nbsp;(482,915)</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-24</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><u>Convertible Debenture due November 2016</u> &nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In November 2013, the Company received aggregate gross proceeds of $3,500,000 from the issuance of 6% convertible debentures due November 11, 2016 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Convertible Debenture due November 2016<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>).&nbsp;The debentures paid interest annually and were convertible into shares of our common stock at a conversion price of $4.73 per share on or before November 11, 2016.&nbsp; The embedded conversion feature had certain weighted average anti-dilution protection provisions which would be triggered if the Company issues its common stock, or certain common stock equivalents, (as defined) at a price below $3.55 per share.&nbsp; The Company had the option to pay any interest on the debentures in common stock based on 90% of the volume weighted average closing sales price of our common stock for the 30 trading days immediately preceding the interest payment date. &nbsp;In conjunction with the issuance of the debentures, the Company issued warrants (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Convertible Debenture Warrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to purchase 369,979 shares of its common stock.&nbsp; Each warrant granted the holder the right to purchase one share of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock at an initial fixed purchase price of $9.46 per share (see discussion below of amendment to warrant exercise price) on or before November 11, 2016.&nbsp; The Convertible Debenture Warrant may be exercised on a cashless basis only if there is not an effective registration statement covering such shares.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company determined, based upon authoritative guidance, that the conversion feature embedded within the Convertible Debenture due November 2016 should be valued separately and bifurcated from the host instrument and accounted for as a free-standing derivative liability and that the Convertible Debenture Warrant should also be valued and accounted for separately as an equity instrument.&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company determined the fair value of each of the three elements included within the Convertible Debenture due November 2016.&nbsp;The debenture portion (without the conversion feature) bearing interest at 6% was determined to be a debt instrument with a fair value of $2,710,000.&nbsp; The embedded conversion feature was determined to be a derivative liability with a fair value of $1,570,000.&nbsp;The Convertible Debenture Warrant was determined to be an equity instrument with a fair value of $740,000.&nbsp; The Company determined the fair value of each of these instruments based upon the assumptions and methodologies as discussed below.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Since the Convertible Debenture Warrant was determined to be an equity instrument, the Company first computed the relative fair value of the Convertible Debenture due November 2016 (including the value of its conversion feature) with a fair value of $4,280,000 and the Convertible Debenture Warrant with a fair value of $740,000.&nbsp;&nbsp; Accordingly, the relative fair value of the Convertible Debenture Warrant and the Convertible Debenture due November 2016 (including the value of its conversion feature) was determined to be $515,936 and $2,984,064, respectively.&nbsp; Then, from the relative fair value of the Convertible Debenture due November 2016, the Company deducted in full the fair value of the embedded conversion feature of $1,570,000.&nbsp;&nbsp;The discount of $2,085,936 applied to the face value of the Convertible Debenture due November 2016 consists of the sum of the relative fair value of the Convertible Debenture Warrant of $515,936 and the full value of the bifurcated conversion option derivative liability of $1,570,000.&nbsp; The Convertible Debenture due November 2016 was recorded at a net value of $1,414,064, representing its face value of $3,500,000, less aggregate discounts for the derivative liability and warrant of $2,085,936, as summarized in the table below.&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-25</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=351> <td width=11> <td width=83> <td width=8> <td width=11> <td width=101 /> </tr><tr> <td width=351 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Face value of Convertible Debenture due November 2016</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=101 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>3,500,000</p></td></tr> <tr> <td width=351 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Fair value of embedded conversion feature</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>1,570,000</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=101 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td></tr> <tr> <td width=351 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Relative fair value of Convertible Debenture Warrant</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=83 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>515,936</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=101 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td></tr> <tr> <td width=351 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Discount</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=83 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>2,085,936</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=101 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>(2,085,936)</p></td></tr> <tr> <td width=351 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Proceeds attributable to the Convertible Debenture due November 2016</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=92 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=101 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>1,414,064</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Accordingly, the Company accounted for the full amount of the discount as an offset to the Convertible Debenture due November 2016, amortizable under the effective interest method over the term of the debenture.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due November 2016 using a Monte Carlo simulation, with the observable assumptions as provided in the table below.&nbsp;The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=286> <td width=11> <td width=86 /> </tr><tr> <td width=384 colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br></p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=97 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>November 11,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>2013</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price on valuation date</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>5.00</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Conversion price</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>4.725</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Discount for lack of marketability</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>35.5%</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Term (years)</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>3.00</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Expected volatility</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>102.8%</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Weighted average risk-free interest rate</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>0.62%</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Trials</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>100,000</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Aggregate fair value</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>1,570,000</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px"><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-26</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;The Company calculated the fair value of the Convertible Debenture Warrant issued on November 11, 2013 using a Black Scholes Model, with the observable assumptions as provided in the table below. The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s warrant value are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement:<br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=286> <td width=11> <td width=86 /> </tr><tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=97 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>November 11,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>2013</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price on valuation date</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>5.00</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Exercise price</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>9.45</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Discount for lack of marketability</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>22%</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Term (years)</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>3.00</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Expected volatility</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>102.8%</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Weighted average risk-free interest rate</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>0.6%</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Number of warrants</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>369,979</p></td></tr> <tr> <td width=286 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Aggregate fair value</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>740,000</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company determined the fair value of the Convertible Debenture due November 2016 by preparing an analysis of discounted cash flows, using a discount rate of 16.0%, which the Company deemed appropriate given the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s current risk scenarios. </p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:60px">&nbsp;In connection with the issuance of the Convertible Debenture due November 2016, the Company incurred legal costs which were allocated as provided below:</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=164> <td width=9> <td width=131> <td width=9> <td width=11> <td width=57 /> </tr><tr> <td width=164 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>&nbsp;Attributable to:</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>&nbsp;</p></td> <td width=131 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>Accounting Treatment</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>&nbsp;</p></td> <td width=69 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>Amount</p></td></tr> <tr> <td width=164 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">The embedded conversion feature (derivative)</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=131 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Expensed as incurred</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=57 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>8,593</p></td></tr> <tr> <td width=164 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">The 8% Convertible Debenture Warrant</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=131 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Charged to additional paid-in capital</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=57 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>2,824</p></td></tr> <tr> <td width=164 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=131 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=57 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td></tr> <tr> <td width=164 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">The 8% Convertible Debenture</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=131 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=57 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>7,739</p></td></tr> <tr> <td width=164 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Total</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=131 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=9 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=57 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>19,156</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the issuance of the Convertible Debenture due November 2016, on February 7, 2014, the Company prepared and filed a registration statement registering for resale the shares of its common stock which may be issued upon the conversion of the debenture and exercise of the warrant consistent with the terms and conditions of the debenture agreement the Company entered into with the holders of the registrable shares listed above.</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has agreed to maintain the effectiveness of the registration statement through the earlier of three years from the date of the issuance of the Convertible Debenture due November 2016 or until Rule 144 of the Securities Act is available to the holders to allow them to sell all of their registrable securities thereunder.&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On September 9, 2014, holders of $3,500,000 and approximately $173,000 of principal and interest, respectively, of the Convertible Debenture due November 2016, converted their holdings into an aggregate of 739,958 shares of common stock the (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Conversion Common Stock<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>).&nbsp;&nbsp; In addition, the Company exchanged and reissued the warrant for the purchase of 369,979 shares of common stock, and upon the reissuance, lowered the exercise price to $7.75 per share.&nbsp;&nbsp; There was no change to the term of the warrant.</p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-27</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Immediately after the conversion, the holders exchanged 639,158 shares of the Conversion Common Stock into 3,500 shares of Series A Convertible Preferred Stock.&nbsp;Shortly thereafter, the Company retired and cancelled the 639,158 shares of common stock received in the exchange.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:42px" align=justify>In connection with this conversion, the Company recorded a loss on conversion/exchange of approximately $2,216,000, as summarized below. This loss represents the excess of the fair value of the common stock issued, net of the shares of common stock exchanged for the issuance of 3,500 shares of Series A Convertible Preferred Stock, plus the fair value of the Series A Convertible Preferred Stock, on the date of the conversion, over the net book value of the debt on the date of conversion. Since the conversion feature on the Convertible Debenture due November 2016 was determined to be a derivative liability, the net book value includes the value of the debt, net of debt discount and deferred issuance costs, plus accrued interest and the derivative liability related to the conversion feature (after being marked to market) on the conversion date, and the change in the fair value of the warrant on the date of the conversion.<font style=FONT-SIZE:12pt> Because the conversion rate of the Series A Convertible Preferred Stock of $</font><font style=FONT-SIZE:12pt>4.73</font><font style=FONT-SIZE:12pt> per share was less than the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s closing stock price on the date of this transaction, the Company determined that the Series A Convertible Preferred Stock contained a </font><font style=FONT-SIZE:12pt>beneficial</font><font style=FONT-SIZE:12pt> conversion feature. The </font><font style=FONT-SIZE:12pt>beneficial</font><font style=FONT-SIZE:12pt> conversion feature was recorded in additional paid-in-capital as a result of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s accumulated deficit</font><font style=FONT-SIZE:12pt>. </font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The loss on extinguishment of debt was determined as follows:&nbsp;</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=444> <td width=11> <td width=105 /> </tr><tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=116 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center><br></p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px"><u>Securities extinguished:</u></p></td> <td width=116 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style=MARGIN:0px><br></p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Face value of convertible debenture converted</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=105 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>3,500,000</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Less: debt discount</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=105 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:0px" align=right>(1,684,801)</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Less: deferred issuance costs</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td width=105 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:0px" align=right>(7,739)</p></td></tr> <tr> <td width=444 height=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Plus: accrued interest</p></td> <td width=11 height=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=105 height=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>173,833</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Plus: fair value of derivative liability</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=105 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>1,032,241</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Plus: fair value of warrant exchanged in connection with the conversion</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=105 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>805,000</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Net book value of converted debenture, accrued interest, derivative &nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;&nbsp;&nbsp;liability and warrant exchanged</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=105 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>3,818,534</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px"><u>Securities issued in conversion/exchange:</u></p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=105 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>&nbsp;</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Fair value of 100,800 shares of common stock issued, net (739,958 </p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;&nbsp;&nbsp;shares of Conversion Common Stock issued, less 639,158 shares </p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;&nbsp;&nbsp;exchanged for 3,500 shares of Series A Convertible Preferred Stock)</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=105 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>617,400</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Fair value of 3,500 shares of Series A Convertible Preferred Stock (based </p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;&nbsp;&nbsp;on a stated value per share of $1,000 and a conversion rate of $4.73)</p></td> <td width=11 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style=MARGIN:0px><br></p></td> <td width=105 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>4,532,241</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Fair value of warrant issued September 9, 2014</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=105 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>885,000</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:24px; MARGIN:0px; PADDING-RIGHT:2px">Subtotal of securities issued in conversion/exchange</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=105 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align=right>6,034,641</p></td></tr> <tr> <td width=444 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">(Loss) on conversion/exchange</p></td> <td width=11 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=105 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:0px" align=right>(2,216,107)</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On September 9, 2014, the Convertible Debenture due November 2016 was extinguished in full.&nbsp;&nbsp;The Company needed to determine the fair value of the derivative liability for the embedded conversion feature immediately prior to the conversion, in order to determine the change in the fair value of the derivative for the period.&nbsp;The Company determined to measure the derivative immediately prior to the conversion at its intrinsic value, since this method most fairly measured the value of the derivative liability.&nbsp;The intrinsic value computation is provided below.</p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-28</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=265> <td width=17> <td width=101 /> </tr><tr> <td width=265 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=119 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>On September 9,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=center>2014</p></td></tr> <tr> <td width=265 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price used for valuation</p></td> <td width=17 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td> <td width=101 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>6.125</p></td></tr> <tr> <td width=265 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=17 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>&nbsp;</p></td> <td width=101 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=center>211.4 shares issued per $1,000 of face value</p></td></tr> <tr> <td width=265 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px; TEXT-INDENT:-12px">Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion</p></td> <td width=17 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=101 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>4,532,241</p></td></tr> <tr> <td width=265 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px">Less the face value of the convertible debenture</p></td> <td width=17 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td> <td width=101 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align=right>(3,500,000)</p></td></tr> <tr> <td width=265 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Intrinsic value of the derivative conversion feature</p></td> <td width=17 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;$</p></td> <td width=101 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align=right>&nbsp;1,032,241</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The derivative liability related to the embedded conversion feature was revalued at each reporting period as well as on the date of all conversions.&nbsp;The value of the derivative liability associated with the conversion of the Convertible Debenture due November 2016 during the year ended October 31, 2014 was approximately $1,032,000. As of October 31, 2014, the Company determined the fair value of the derivative liability to be $-0-, as the full value of the Convertible Debenture due November 2016 was converted in full during the year ended October 31, 2014. &nbsp;During the year ended October 31, 2014, the Company recorded gains on the change in fair value of the derivative liability of approximately $538,000.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due November 2016 using a Monte Carlo simulation. The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. &nbsp;Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The amortization of debt discount related to the Convertible Debenture due November 2016 for the years ended October 31, 2015 and 2014 was approximately $-0- and $401,000, respectively.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">6.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><u>SHAREHOLDERS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> EQUITY</u></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><u>Sale of Common Stock</u></p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-29</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>On July 15, 2014, the Company, raised $4,000,000 of gross proceeds via a registered direct offering of its common stock to certain investors (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Investors<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Offering<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). The Company sold an aggregate of </font><font style=BACKGROUND-COLOR:rgb(255,255,255)>640,</font><font style=BACKGROUND-COLOR:rgb(255,255,255)>000 shares of common stock and warrants to purchase an aggregate of </font><font style=BACKGROUND-COLOR:rgb(255,255,255)>320,</font><font style=BACKGROUND-COLOR:rgb(255,255,255)>000 shares of common stock. The purchase price of one share of common stock and a warrant to purchase &#189; of a share of common stock was $</font><font style=BACKGROUND-COLOR:rgb(255,255,255)>6</font><font style=BACKGROUND-COLOR:rgb(255,255,255)>.25. &nbsp;The warrants are exercisable immediately as of the date of issuance at an exercise price of $</font><font style=BACKGROUND-COLOR:rgb(255,255,255)>10.00 </font><font style=BACKGROUND-COLOR:rgb(255,255,255)>per share and expire five years from the date of issuance. The exercise price of the warrants is subject to customary adjustment in the case of stock splits, stock dividends, combinations of shares and similar recapitalization transactions. &nbsp;Under certain circumstances, the Company has the right to call for cancellation of warrants for which a notice of exercise has not yet been delivered for consideration equal to $.0</font><font style=BACKGROUND-COLOR:rgb(255,255,255)>25</font><font style=BACKGROUND-COLOR:rgb(255,255,255)> per share. &nbsp;The Offering was effected as a takedown off the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s shelf registration statement on Form S-3, which became effective on April 25, 2014, pursuant to a prospectus supplement filed with the SEC.</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)><u>Reverse Stock Split</u></font></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:rgb(255,255,255)>On June 26, 2015, we effected a 1-for-25 reverse stock split (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Stock Split<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) of our issued common stock and preferred stock. &nbsp;Each shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> percentage ownership and proportional voting power remained unchanged as a result of the Stock Split. &nbsp;All applicable share data, per share amounts and related information in the consolidated financial statements and notes thereto have been adjusted retroactively to give effect to the Stock Split. &nbsp;As a result of the Stock Split, the number of shares of our common stock and preferred stock authorized was also decreased by the same proportion as the outstanding shares.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Common Stock Issuances</u></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>During the years ended October 31, 2015 and 2014, we issued 11,600 shares and 12,400 shares, respectively, of common stock to consultants for services rendered, pursuant to the 2010 Share Plan. &nbsp;We recorded consulting expense for the years ended October 31, 2015 and 2014 of approximately $46,000 and $85,000, respectively, for shares of common stock issued to consultants. &nbsp;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:-6px"><u>Stock&nbsp;Option&nbsp;Plans</u></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>As of October 31, 2015, we have two stock option plans: the 2003 Share Plan and the 2010 Share Plan which were adopted by our Board of Directors on April 21, 2003 and July 14, 2010, respectively.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:0px; TEXT-INDENT:48px" align=justify>The 2003 Share Plan provides for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees and consultants. &nbsp;The maximum number of shares of common stock in the 2003 Share Plan was 2,800,000 shares. The 2003 Share Plan was administered by the Stock Option Committee through June 2004, from June 2004 through July 2010, by the Board of Directors, from July 2010 through August 2012, by the Stock Option Committee, from August 2012 through November 2012, by the Executive Committee of the Board of Directors and since November 2012, by the Board of Directors, which determined the option price, term and provisions of each option. &nbsp;The exercise price with respect to all of the options granted under the 2003 Share Plan since its inception was equal to the fair market value of the underlying common stock at the grant date. In accordance with the provisions of the 2003 Share Plan, the plan terminated with respect to the grant of future options on April 21, 2013.<br><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-30</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px">Information regarding the 2003 Share Plan for the two years ended October 31, 2015 is as follows:</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=269 valign=bottom> <td width=96 valign=bottom> <td valign=bottom> <td valign=bottom> <td width=120 align=center valign=bottom> <td valign=bottom> <td valign=bottom> <td width=112 valign=bottom /> </tr><tr> <td width=269 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br>&nbsp;</p></td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>Shares</font></p></td> <td valign=bottom>&nbsp;</td> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid" align=center valign=bottom> <p align=center><font style=FONT-SIZE:11pt>Weighted <br>Average Exercise <br>Price Per Share</font></p></td> <td valign=bottom>&nbsp;</td> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>Aggregate <br>Intrinsic Value</font></p></td></tr> <tr> <td width=269 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=120 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=112 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=269 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, 2013</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>625,554</p></td> <td> <td><font style=FONT-SIZE:11pt>$</font></td> <td width=120 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>18.00</p></td> <td> <td> <td width=112 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=269 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>(17,400)</p></td> <td valign=bottom> <td valign=bottom><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=120 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;&nbsp;3.63</p></td> <td valign=bottom> <td valign=bottom> <td width=112 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=269 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Forfeited</p></td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>(114,163)</p></td> <td> <td><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=120 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>19.75</p></td> <td> <td> <td width=112 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=269 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding &nbsp;at October 31, 2014</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>493,991</p></td> <td valign=bottom> <td valign=bottom><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=120 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>18.00</p></td> <td valign=bottom> <td valign=bottom> <td width=112 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=269 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;(4,000)</p></td> <td> <td><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=120 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;&nbsp;2.58</p></td> <td> <td> <td width=112 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=269 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Forfeited</p></td> <td width=96 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>(123,771)</p></td> <td valign=bottom> <td valign=bottom><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=120 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>14.71</p></td> <td valign=bottom> <td valign=bottom> <td width=112 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=269 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding and Exercisable at October 31, 2015</p></td> <td width=96 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right><font style=FONT-SIZE:11pt>&nbsp;&nbsp;&nbsp;366,200</font></p></td> <td> <td><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=120 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>17.86</p></td> <td> <td><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=112 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>61,665</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of October 31, 2015:</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=138 valign=bottom> <td width=96 valign=bottom> <td width=143 valign=bottom> <td width=90 align=center valign=bottom /> </tr><tr> <td width=138 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Range of<br>Exercise Prices</p></td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Number<br>Outstanding</p></td> <td width=143 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Weighted Average<br>Remaining</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Contractual Life </p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(in years)</p></td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Weighted Average<br>Exercise Price</p></td></tr> <tr bgcolor=#cceeff> <td width=138 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$ &nbsp;1.79 - $ &nbsp;9.25</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>73,880</p></td> <td width=143 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>1.75</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$ &nbsp;2.91</p></td></tr> <tr> <td width=138 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$14.75 - $17.25</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>59,600</p></td> <td width=143 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>1.33</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$16.75</p></td></tr> <tr bgcolor=#cceeff> <td width=138 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$18.75 - $23.00</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>192,720</p></td> <td width=143 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>1.14</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$21.57</p></td></tr> <tr> <td width=138 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$29.25</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>40,000</p></td> <td width=143 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>1.80</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align=center valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$29.25</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The 2010 Share Plan provides for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees and consultants. &nbsp;The maximum number of shares of common stock in the 2010 Share Plan was initially 600,000 shares. On July 6, 2011, the 2010 Share Plan was amended by our Board of Directors to increase the maximum number of shares of common stock in the plan to 1,080,000 shares and on August 29, 2012, the maximum number of shares in the plan was further increased to 1,200,000 shares. &nbsp;On November 8, 2013, the Board of Directors approved an amendment to provide that effective November 8, 2013, the maximum aggregate number of shares available for future issuance will be 800,000 shares and that on the first business day in 2014 and on the first business day of each calendar year thereafter the maximum aggregate number of shares available for future issuance shall be replenished such that 800,000 shares will be available. Accordingly, on November 8, 2013, January 2, 2014 and January 2, 2015, the number of shares in the 2010 Share Plan was increased to 1,956,999 shares, 2,225,399 shares and 2,569,399 shares, respectively. &nbsp;In addition, on November 8, 2013, the 2010 Share Plan was amended to provide that on January 2nd of each year commencing on January 2, 2014, each non-employee director of the Company at that time shall automatically be granted a 10 year stock option to purchase 12,000 shares of common stock (16,000 for the Chairman) that will vest in four equal quarterly installments. The 2010 Share Plan was administered by the Stock Option Committee through August 2012, from August 2012 through November 2012, by the Executive Committee of the Board of Directors and since November 2012, by the Board of Directors, which determines the option price, term and provisions of each option. The exercise price with respect to all of the options granted under the 2010 Share Plan was equal to the fair market value of the underlying common stock at the grant date. &nbsp;As of October 31, 2015, the 2010 Share Plan had 988,995 shares available for future grants.<br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-31</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Information regarding the 2010 Share Plan as of October 31, 2015 is as follows: </p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=278 valign=bottom> <td width=96 valign=bottom> <td valign=bottom> <td width=132 valign=bottom> <td valign=bottom> <td width=86 valign=bottom /> </tr><tr> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align=center>Shares</p></td> <td valign=bottom>&nbsp;</td> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align=center>&nbsp;Weighted Average Exercise Price Per Share</p></td> <td valign=bottom>&nbsp;</td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align=center>Aggregate Intrinsic Value</p></td></tr> <tr> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td valign=bottom> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td> <td valign=bottom> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px><br></p></td></tr> <tr bgcolor=#cceeff> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, 2013</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119,360</p></td> <td> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.13</p></td> <td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Granted</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612,400</p></td> <td valign=bottom> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.75</p></td> <td valign=bottom> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,200)</p></td> <td> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.00</p></td> <td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;</p></td></tr> <tr> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, &nbsp;2014</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728,560</p></td> <td valign=bottom> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.75</p></td> <td valign=bottom> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:7px; MARGIN:0px">Granted</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60,400</p></td> <td> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2.91</p></td> <td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13,334)</p></td> <td valign=bottom> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2.58</p></td> <td valign=bottom> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Forfeited</p></td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(249,355)</p></td> <td> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.24</p></td> <td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, &nbsp;2015</p></td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526,271</p></td> <td valign=bottom> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3.33</p></td> <td valign=bottom> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;$ 471,292</p></td></tr> <tr bgcolor=#cceeff> <td width=278 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Exercisable at October 31, 2015</p></td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406,149</p></td> <td> <td width=132 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3.40</p></td> <td> <td width=86 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;$ 342,572</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>The following table summarizes information about stock options outstanding under the 2010 Share Plan as of October 31, 2015:</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=96 valign=bottom> <td width=90 valign=bottom> <td width=60 valign=bottom> <td width=24 valign=bottom> <td width=72 valign=bottom> <td valign=bottom> <td width=90 valign=bottom> <td width=65 valign=bottom> <td width=18 valign=bottom> <td width=77 valign=bottom /> </tr><tr> <td valign=bottom> <td colspan=4 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>Options Outstanding</font> </p></td> <td valign=bottom>&nbsp;</td> <td colspan=4 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>Options Exercisable</font></p></td></tr> <tr> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Range of<br>Exercise<br>Prices</p></td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Number<br>Outstanding</p></td> <td width=84 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Weighted Average<br>Remaining<br>Contractual Life </p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(in years)</p></td> <td width=72 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Weighted Average<br>Exercise Price</p></td> <td valign=bottom> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Number<br>Exercisable</p></td> <td width=84 colspan=2 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Weighted Average<br>Remaining<br>Contractual Life<br>(in years)</p></td> <td width=77 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Weighted Average<br>Exercise Price</p></td></tr> <tr> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td width=84 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td width=72 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td valign=bottom> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td width=84 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td width=77 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=center>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$2.58 - $9.25</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>526,271</p></td> <td width=84 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>6.98</p></td> <td width=72 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$3.33</p></td> <td> <p align=center>&nbsp;</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>406,149</p></td> <td width=84 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>6.57</p></td> <td width=77 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$3.40</p></td></tr></table></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>In addition to options granted under the 2003 Share Plan and the 2010 Share Plan, in September 2012, the Board of Directors approved the grant of stock options to purchase 1,660,000 shares and, during the year ended October 31, 2013, the Board of Directors approved the grant of stock options to purchase 120,000 shares.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Of the stock options granted in September 2012, nonqualified options to purchase 1,600,000 shares were issued to our new executive team, consisting of 640,000 stock options issued to our new President and Chief Executive Officer, 320,000 stock options issued to our new Senior Vice President of Engineering and 640,000 stock options issued to a new strategic advisor to the Company who was also a Director. &nbsp;These stock options had an exercise price of $5.44 (the average of the high and the low sales price of the common stock on the trading day immediately preceding the approval of such options by the Board of Directors) and have a term of ten years. &nbsp;Half of these stock options vest in 36 equal monthly installments commencing on October 31, 2012, provided that if the grantees are terminated by the Company without cause, an additional 12 months of vesting will be accelerated and such accelerated options will become immediately exercisable. &nbsp;The balance of the stock options will vest in three equal installments upon achievement of a cash milestone, which was satisfied in the fourth quarter of fiscal 2013, and two stock price targets, which were not achieved in fiscal 2013. &nbsp;In November 2013, in light of the cost and expense of revaluing the unvested portion of the performance-based stock options on a quarterly basis for financial reporting purposes, the Board of Directors approved an amendment to the performance-based stock options awarded on September 19, 2012 to the President and Chief Executive Officer, Senior Vice President of Engineering and the strategic advisor. The amendment modifies the option award<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s vesting conditions to provide that the unvested portion of the stock options vest in 23 consecutive monthly installments commencing November 30, 2013. &nbsp;The fair value of these options was recalculated to reflect the change to service based options as of November 8, 2013 and the unrecognized compensation amount was adjusted to reflect the increase in fair value. &nbsp;As of October 31, 2015, the options to purchase 1,600,000 shares were exercisable and had an intrinsic value of $1,832,000, based on our closing share price on October 31, 2015 of $3.72. &nbsp;These stock options otherwise have the same terms and conditions as options granted under the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s 2010 Share Incentive Plan.</p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-32</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>The remaining nonqualified stock options granted in September 2012 to purchase 60,000 shares consisted of grants of 30,000 stock options to our Chairman in compensation for his service as interim Chief Executive Officer of the Company and as compensation for his prior service as a director, and 30,000 stock options to a director in compensation for his service in recruiting the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s new management team. &nbsp;These stock options had an exercise price of $5.56 (the average of the high and low sales price on September 21, 2012). &nbsp;The options vest in 3 equal annual installments commencing on September 21, 2012 and have a term of ten years. &nbsp;&nbsp;As of October 31, 2015, these options were exercisable and had an intrinsic value of approximately $34,000<font style=FONT-SIZE:12pt>, based on our closing share price on October 31, 2015 of $3.72</font>. &nbsp;These stock options otherwise have the same terms and conditions as options granted under the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s 2010 Share Incentive Plan. &nbsp;</p> <p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>During the year ended October 31, 2013, nonqualified stock options to purchase 120,000 shares were granted to our outside directors for service rendered to our Company. &nbsp;Of these options, </p> <p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>(a) &nbsp;In November 2012, nonqualified stock options to purchase 40,000 shares were issued to one of our directors as additional compensation for service in recruiting the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s new management team. &nbsp;These options have an exercise price of $5.28 (the average of the high and low sales price on date of grant) and vested 13,334 shares upon grant and 13,333 shares in two annual installments commencing November 30, 2013. &nbsp;</p> <p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>(b) In February 2013, nonqualified stock options to purchase 40,000 shares were issued to the Chairman of the Board. &nbsp;These stock options had an exercise price of $5.88 (the average of the high and low sales price on date of grant) and vest 13,334 shares upon grant and 13,333 shares in two annual installments commencing February 15, 2014. &nbsp;</p> <p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>(c) In March 2013, nonqualified stock options to purchase an aggregate of 40,000 shares were granted to the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s three outside directors. &nbsp;Each of these stock options had an exercise price of $4.88 (the average of the high and low sales price on date of grant) and vest in four equal quarterly installments commencing March 31, 2013.</p> <p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>As of October 31, 2015, the options to purchase 120,000 shares were exercisable and had an intrinsic value of approximately $92,000<font style=FONT-SIZE:12pt>, based on our closing share price on October 31, 2015 of $3.72</font>. &nbsp;These options otherwise have the same terms and conditions as options granted under the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s 2010 Share Incentive Plan.&nbsp;&nbsp;<br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-33</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The following table summarizes information about the above outstanding and exercisable stock options that were not granted under the 2003 Share Plan or the 2010 Share Plan as of October 31, 2015:</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=138> <td> <td width=96> <td> <td width=143> <td> <td width=90 /> </tr><tr> <td width=138 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Range of<br>Exercise Prices</p></td> <td>&nbsp;</td> <td width=96 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Number<br>Outstanding</p></td> <td>&nbsp;</td> <td width=143 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Weighted Average<br>Remaining<br>Contractual Life </p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(in years)</p></td> <td>&nbsp;</td> <td width=90 style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Weighted Average<br>Exercise <br>Price</p></td></tr> <tr bgcolor=#cceeff> <td width=138 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$ 2.58 - $ 5.56</p></td> <td> <p align=center>&nbsp;</p></td> <td width=96 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>1,780,000</p></td> <td> <p align=center>&nbsp;</p></td> <td width=143 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>6.76</p></td> <td> <p align=center>&nbsp;</p></td> <td width=90 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>$ &nbsp;2.71</p></td></tr></table></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On January 28, 2015, the Board of Directors authorized management of the Company to re-price issued and outstanding stock options for all of the officers, directors and employees of the Company, at any time prior to February 16, 2015. &nbsp;On February 5, 2015, management acted to re-price 2,184,125 issued and outstanding stock options (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Re-Priced Options<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) pursuant to the authority granted by the Board of Directors. The new exercise price of the Re-Priced Options is $2.575, the closing sales price of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock on February 5, 2015. &nbsp;All other terms of the previously granted Re-Priced Options remain the same. &nbsp;The Company recorded additional stock-based compensation of approximately $297,000, as of February 5, 2015, related to this re-pricing. &nbsp;This amount was determined to be the incremental value of the fair value of the Re-Priced Options compared to the fair value of the original option immediately before the re-pricing.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><u>Preferred Stock</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>In May 1986, our shareholders authorized 200,000 shares of preferred stock with a par value of $100 per share. &nbsp;The shares of preferred stock may be issued in series at the direction of the Board of Directors, and the relative rights, preferences and limitations of such shares will all be determined by the Board of Directors. &nbsp;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><u>Series A Convertible Preferred&nbsp;Stock</u></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On September 9, 2014, the Company designated 140 shares of the preferred stock as Series A Convertible Preferred Stock, par value $100 per share, in accordance with the Certificate of Designation of Series A Convertible Preferred Stock filed with the Secretary of State of the State of Delaware on September 9, 2014 (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Series A Convertible Preferred Stock<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;On September 9, 2014, 140 shares of Series A Convertible Preferred Stock were issued in connection with the conversion of the Convertible Debenture due November 2016, as discussed further, in Note 5, <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Convertible Debentures<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> herein.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><i>Ranking&nbsp;</i></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Series A Convertible Preferred Stock ranks senior to the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock, to all series of any other classes of equity which may be issued and to any indebtedness, unless the Company has obtained the prior written consent of the Series A Convertible Preferred Stock holder.<br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-34</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><i>Optional Conversion</i></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:18px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Holders of the Series A Convertible Preferred Stock may at any time convert their shares of Series A Convertible Preferred Stock into such number of shares of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock in such an amount equal to (a) the stated value (initially $1,000) of the shares of Series A Convertible Preferred Stock being converted (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Stated Value<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), divided by the conversion price (initially $4.73) ( the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Series A Conversion Price<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), multiplied by (b) the number of shares of Series A Preferred Stock being converted. &nbsp;In the event the Series A Convertible Preferred Stock is converted in part, the Company shall deliver a new certificate of like tenor in the amount equal to the remaining balance of the Series A Convertible Preferred Stock after giving effect to such partial conversion.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The holder shall not have the right to convert any portion of the Series A Convertible Preferred Stock if after giving effect to such conversion, the holder, together with any affiliate thereof, would beneficially own in excess of 4.99% of the number of shares of common stock outstanding immediately after giving effect to such conversion.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The embedded conversion option has certain anti-dilution protection provisions which would be triggered if the Company issues its common stock, or certain common stock equivalents, (as defined) at a price below $3.55 per share. &nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN:0px 0px 0px 48px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><i>Mandatory Conversion</i></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>At any time after November 11, 2016, if and only if the average of the high and low trading prices of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s common stock for any 10 out of 20 consecutive trading days (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Measurement Period,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) exceeds the then Series A Conversion Price, as adjusted, the Company may convert any then outstanding shares of Series A Convertible Preferred Stock into shares of common stock (a <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Mandatory Conversion<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), provided, however, that any such Mandatory Conversion shall not require a holder to convert a number of shares of Series A Convertible Preferred Stock into an amount of Common Stock that would exceed 50% of the daily average trading volume of the common stock during the Measurement Period. Following November 11, 2016 and subject to the price and volume limitations set forth above, the Company may require such number of successive Mandatory Conversions as are necessary to convert all then outstanding Series A Convertible Preferred Stock. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><i>Redemption</i></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>At any time on or after November 11, 2016 (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Redemption Date<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), and upon at least 60 days prior written notice to the Company (a <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Redemption Notice<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), any holder of the Series A Convertible Preferred Stock shall have a one-time right to require the Company to redeem all or some of its shares of Series A Convertible Preferred Stock (a <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Redemption<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), for cash generated from a subsequent sale of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s equity securities. &nbsp;&nbsp;The redemption price shall be equal to the Stated Value for each share of Series A Convertible Preferred Stock (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Redemption Purchase Price<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;Upon receipt of a Redemption Notice, the Company shall complete a sale or sales of its equity securities for the purpose of accumulating net proceeds sufficient to pay the Redemption Purchase Price (it being understood by the holder of the Series A Convertible Preferred Stock that the Company may only redeem shares of Series A Convertible Preferred Stock with the proceeds from the sale of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s equity securities).<br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-35</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><i>Board and Observer Rights</i></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Each holder of Series A Convertible Preferred Stock shall have the right, upon 10 days' prior written notice, to designate one representative, reasonably acceptable to the Company, who shall be entitled to attend and observe meetings of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Board of Directors in a non-voting observer capacity (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Observer<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>).</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><i>Accounting for the Series A Convertible Preferred Stock</i></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>The Company determined that the economic characteristics and risks of the conversion feature and the preferred stock instrument were clearly and closely related as equity instruments and accordingly, the conversion feature would not require separate accounting. &nbsp;&nbsp;In addition, the redemption feature is contingent upon Series A Convertible Preferred Stock not being converted into common stock and upon the holders delivering a redemption notice to the Company. &nbsp;&nbsp;Further, the redemption purchase price may only be paid from the proceeds of a subsequent sale of equity securities. Accordingly, the Series A Convertible Preferred Stock was accounted for as an equity instrument. Further, b<font style=FONT-SIZE:12pt>ecause the conversion rate of the Series A Convertible Preferred Stock of $</font><font style=FONT-SIZE:12pt>4.73</font><font style=FONT-SIZE:12pt> per share was less than the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s closing stock price on the date of this transaction, the Company determined that the Series A Convertible Preferred Stock contained a </font><font style=FONT-SIZE:12pt>beneficial</font><font style=FONT-SIZE:12pt> conversion feature. The </font><font style=FONT-SIZE:12pt>beneficial </font><font style=FONT-SIZE:12pt>conversion feature was recorded in additional paid-in-capital as a result of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s accumulated deficit</font><font style=FONT-SIZE:12pt>.</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">7.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><u>COMMITMENTS AND CONTINGENCIES</u> </p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px" align=justify><u>Patent Acquisition Obligations</u></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>As of October 31, 2015, we have incurred obligations due no later than November 2017 related to the acquisition of patents, which have a discounted present value of approximately $3,688,000, and which amount will be reduced by royalties paid during the period, if any. &nbsp;The payment due in November 2017 is payable at the option of the Company in cash or common stock. &nbsp;We recorded interest expense of approximately $452,000 and $386,000, respectively, for the &nbsp;years ended October 31, 2015 and 2014, for the accretion of interest on patent acquisition obligations. </p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Leases</u> </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>We lease approximately 3,000 square feet of office space in Los Angeles, California pursuant to a lease that expires March 30, 2016. &nbsp;As of October 31, 2015, our non-cancelable operating lease commitments for the year ending October 31, 2016 was approximately $44,000. &nbsp;Rent expense for the years ended October 31, 2015 and 2014, was approximately $100,000 and $109,000, respectively. &nbsp;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify><u>Litigation Matters</u></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013. For a more detailed description of the settlement with AUO see Note 1, <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Business and Funding - Description of Business - AUO Lawsuit and Settlement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>.<br><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-36</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>Other than suits we bring to enforce our patent rights we are not a party to any material pending legal proceedings other than that which arise in the ordinary course of business. &nbsp;We believe that any liability that may ultimately result from the resolution of these matters will not, individually or in the aggregate, have a material adverse effect on our financial position or results of operations.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">8.</p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><u>INCOME TAXES</u> &nbsp;&nbsp;&nbsp;</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align=justify>Income tax provision (benefit) consists of the following:</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=270 valign=bottom> <td valign=bottom> <td width=102 valign=bottom> <td valign=bottom> <td valign=bottom> <td width=108 valign=bottom /> </tr><tr> <td valign=bottom> <td colspan=5 style="BORDER-BOTTOM:#000000 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>Year Ended October 31,</font></p></td></tr> <tr> <td valign=bottom> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>2015</font></p></td> <td valign=bottom><font style=FONT-SIZE:11pt>&nbsp;</font></td> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid" valign=bottom> <p align=center><font style=FONT-SIZE:11pt>2014</font></p></td></tr> <tr bgcolor=#cceeff> <td width=270 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Federal:</p></td> <td> <td width=102 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td> <td> <td width=108 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=270 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:12px">Current</p></td> <td valign=bottom><font style=FONT-SIZE:11pt>$</font></td> <td width=102 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td valign=bottom> <td valign=bottom><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=108 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr> <tr bgcolor=#cceeff> <td width=270 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:12px">Deferred</p></td> <td> <td width=102 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>(487,000)</p></td> <td> <td> <td width=108 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>(1,606,000)</p></td></tr> <tr> <td width=270 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px">State:</p></td> <td valign=bottom> <td width=102 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td> <td valign=bottom> <td valign=bottom> <td width=108 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right>&nbsp;</p></td></tr> <tr bgcolor=#cceeff> <td width=270 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:12px">Current</p></td> <td> <td width=102 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>-</p></td> <td> <td> <td width=108 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>-</p></td></tr> <tr> <td width=270 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:12px">Deferred</p></td> <td valign=bottom> <td width=102 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>(120,000)</p></td> <td valign=bottom> <td valign=bottom> <td width=108 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px" align=right>&nbsp;(1,000)</p></td></tr> <tr bgcolor=#cceeff> <td width=270 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px">Adjustment to valuation allowance related </p> <p style="FONT-SIZE:11pt; PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px">&nbsp;&nbsp;&nbsp;to net deferred tax assets</p></td> <td style="BORDER-BOTTOM:#000000 1px solid">&nbsp;</td> <td width=102 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>607,000</p></td> <td> <td style="BORDER-BOTTOM:#000000 1px solid">&nbsp;</td> <td width=108 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:20px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:4px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;1,607,000</p></td></tr> <tr> <td width=270 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td style="BORDER-BOTTOM:#000000 3px double" valign=bottom><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=102 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td valign=bottom> <td style="BORDER-BOTTOM:#000000 3px double" valign=bottom><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=108 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr></table></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>The tax effects of temporary differences that give rise to significant portions of the deferred tax asset, net, at October 31, 2015 and 2014, are as follows:</p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=25> <td width=340> <td> <td width=114> <td> <td> <td width=102 /> </tr><tr> <td> <td> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid"> <p align=center><font style=FONT-SIZE:11pt>2015</font></p></td> <td> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid"> <p align=center><font style=FONT-SIZE:11pt>2014</font></p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Long-term deferred tax assets:</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td> <td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td></tr> <tr> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td> <td width=340 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Federal and state NOL and tax credit carryforwards</p></td> <td><font style=FONT-SIZE:11pt>$</font></td> <td width=114 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;31,261,000</p></td> <td> <td><font size=3 style=FONT-SIZE:11pt>$</font></td> <td width=102 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;31,864,000</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Deferred compensation</p></td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>6,522,000</p></td> <td> <td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>5,437,000</p></td></tr> <tr> <td width=25 style="BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td> <td width=340 style="BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Intangibles</p></td> <td style=BORDER-BOTTOM:0px>&nbsp;</td> <td width=114 style="BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px; TEXT-INDENT:35px" align=right>483,000</p></td> <td style=BORDER-BOTTOM:0px> <td style=BORDER-BOTTOM:0px>&nbsp;</td> <td width=102 style="BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr> <tr bgcolor=#cceeff> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Other</p></td> <td style="BORDER-BOTTOM:#000000 1px solid"> <td style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px; TEXT-INDENT:35px" align=right>282,000</p></td> <td> <td style="BORDER-BOTTOM:#000000 1px solid">&nbsp; <td style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>359,000</p></td></tr> <tr> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td> <td width=340 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal</p></td> <td> <td width=114 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>38,548,000</p></td> <td> <td> <td width=102 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>37,660,000</p></td></tr> <tr bgcolor=#cceeff> <td style="BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td> <td style="BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <td style=BORDER-BOTTOM:0px>&nbsp;</td> <td style="BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <td style=BORDER-BOTTOM:0px> <td style=BORDER-BOTTOM:0px>&nbsp;</td> <td style="BORDER-BOTTOM:0px; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" /> </tr><tr> <td width=25 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>&nbsp;</p></td> <td width=340 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Less: valuation allowance</p></td> <td style="BORDER-BOTTOM:#000000 1px solid"> <td width=114 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:7px" align=right>(38,548,000)</p></td> <td> <td style="BORDER-BOTTOM:#000000 1px solid"> <td width=102 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:7px" align=right>(37,660,000)</p></td></tr> <tr bgcolor=#cceeff> <td style=BORDER-BOTTOM:0px> <td style=BORDER-BOTTOM:0px> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:16px">Deferred tax asset, net</p></td> <td style="BORDER-BOTTOM:#000000 3px double"><font size=3>$</font></td> <td style="BORDER-BOTTOM:#000000 3px double"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td style=BORDER-BOTTOM:0px> <td style="BORDER-BOTTOM:#000000 3px double"><font size=3>$</font></td> <td style="BORDER-BOTTOM:#000000 3px double"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td></tr></table></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>As of October 31, 2015, we had tax net operating loss and tax credit carryforwards of approximately $75,642,000 and $1,110,000, respectively, available within statutory limits (expiring at various dates between 2016 and 2035), to offset any future regular Federal corporate taxable income and taxes payable. &nbsp;If the tax benefits relating to deductions of option holders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> income are ultimately realized, those benefits will be credited directly to additional paid-in capital. &nbsp;Certain changes in stock ownership can result in a limitation on the amount of net operating loss and tax credit carryovers that can be utilized each year. As of October 31, 2015, management has not determined the extent of any such limitations, if any.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>We had New York State tax net operating loss and tax credit carryforwards of approximately $72,505,000 and $11,000, respectively, and California tax net operating loss carryforward of approximately $2,803,000, as of October 31, 2015, available within statutory limits (expiring at various dates between 2016 and 2035), to offset future corporate taxable income and taxes payable, if any, under certain computations of such taxes.<br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-37</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <hr style=PAGE-BREAK-AFTER:always> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>ITUS CORPORATION AND SUBSIDIARIES</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>We have provided a valuation allowance against our deferred tax asset due to our current and historical pre-tax losses and the uncertainty regarding their realizability. &nbsp;The primary differences from the Federal statutory rate of 34% and the effective rate of 0% is attributable to certain permanent differences and a change in the valuation allowance. &nbsp;The following is a reconciliation of income taxes at the Federal statutory tax rate to income tax expense (benefit):</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=168 valign=bottom> <td width=84 valign=bottom> <td width=60 valign=bottom> <td width=84 valign=bottom> <td width=60 valign=bottom /> </tr><tr> <td width=168 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td width=288 colspan=4 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align=center>Year Ended October 31,</p></td></tr> <tr> <td width=168 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>&nbsp;</p></td> <td width=144 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align=center>2015</p></td> <td width=144 colspan=2 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align=center>2014</p></td></tr> <tr bgcolor=#cceeff> <td width=168 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:9pt; MARGIN:0px">Income tax benefit at U.S. </p> <p style="FONT-SIZE:9pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Federal statutory income </p> <p style="FONT-SIZE:9pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Tax rate</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(469,000)</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;(34.00%)</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>$&nbsp;&nbsp;&nbsp;&nbsp;(3,266,000)</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;(34.00%)</p></td></tr> <tr> <td width=168 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>State income taxes</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right>(117,000)</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;(8.50%)</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6,000)</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>(.06%)</p></td></tr> <tr bgcolor=#cceeff> <td width=168 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>Permanent differences</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,000</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>.10%</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right>1,529,000</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>15.92%</p></td></tr> <tr> <td width=168 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>Expiring net operating </p> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;losses, credits and other</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;</p> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22,000)</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;&nbsp;&nbsp;(1.60%)</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right>&nbsp;&nbsp;</p> <p style=MARGIN:0px align=right>&nbsp;&nbsp;115,000</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>1.19%</p></td></tr> <tr bgcolor=#cceeff> <td width=168 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px">Foreign rate difference on</p> <p style="PADDING-LEFT:24px; MARGIN:0px; TEXT-INDENT:-24px">&nbsp;&nbsp;&nbsp;impairment</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right>-</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right>0%</p></td> <td width=84 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right>21,000</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right>.22%</p></td></tr> <tr> <td width=168 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px>Change in valuation &nbsp;</p> <p style=MARGIN:0px>&nbsp;&nbsp;&nbsp;allowance</p></td> <td width=84 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style=MARGIN:0px align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607,000</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>44.00%</p></td> <td width=84 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style=MARGIN:0px align=right>&nbsp;1,607,000</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style=MARGIN:0px align=right><br></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>&nbsp;16.73%</p></td></tr> <tr bgcolor=#cceeff> <td width=168 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px>Income tax provision</p></td> <td width=84 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>0%</p></td> <td width=84 style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td> <td width=60 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:9pt; MARGIN:0px" align=right>0%</p></td></tr></table></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify>During the two fiscal years ended October 31, 2015, we incurred no Federal and no State income taxes. &nbsp;We have no unrecognized tax benefits as of October 31, 2015 and 2014 and we account for interest and penalties related to income tax matters in marketing, general and administrative expenses. &nbsp;Tax years to which our net operating losses relate remain open to examination by Federal authorities and other jurisdictions to the extent which the net operating losses have yet to be utilized.<br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:24px" align=center>F-38</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px> <p style=MARGIN:0px> <p style=MARGIN:0px>&nbsp;</p></body>
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<DESCRIPTION>EXHIBIT 21
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<head><title>Exhibit 21</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:'Times New Roman'; COLOR:#000000; MARGIN-TOP:0px"> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=right><b>Exhibit 21</b></p> <p style=MARGIN:0px align=right><br></p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=331> <td width=1> <td width=260 /> </tr><tr> <td width=331 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px><br></p></td> <td width=1 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px><br></p></td> <td width=260 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style=MARGIN:0px><br></p></td></tr> <tr> <td width=592 height=19 colspan=3 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px" align=center><u>SUBSIDIARIES OF ITUS CORPORATION</u></p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px"><u>Name of Company and Name Doing Business</u></p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px" align=right>&nbsp;</p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px"><u>Jurisdiction of Organization</u></p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">CopyTele International Ltd.</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px" align=right>&nbsp;</p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">British Virgin Islands</p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">CopyTele Marketing Inc.</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px" align=right>&nbsp;</p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">British Virgin Islands</p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">ITUS Patent Acquisition Corporation</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px" align=right>&nbsp;</p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">State of Delaware</p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">J-Channel Industries Corporation</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px" align=right>&nbsp;</p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">State of Delaware</p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">Loyalty Conversion Systems Corporation</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px" align=right>&nbsp;</p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">State of Delaware</p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">Secure Web Conference Corporation</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px" align=right>&nbsp;</p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">State of Delaware</p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">Encrypted Cellular Communications Corporation</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:13px; MARGIN-TOP:0px" align=right><br></p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">State of Delaware</p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">Auction Acceleration Corp.</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:13px; MARGIN-TOP:0px" align=right><br></p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">State of Delaware</p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">Cyber Instruments Technologies Corporation</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:13px; MARGIN-TOP:0px" align=right><br></p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">State of Delaware</p></td></tr> <tr> <td width=331 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">VPN Multicasting Technologies LLC</p></td> <td width=1 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:13px; MARGIN-TOP:0px" align=right><br></p></td> <td width=260 height=19 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=bottom> <p style="MARGIN-BOTTOM:10px; MARGIN-TOP:0px">State of Texas</p></td></tr></table> <p style="MARGIN-BOTTOM:9px; MARGIN-TOP:0px"><br></p> <p style="MARGIN-BOTTOM:9px; MARGIN-TOP:0px"><br><br></p> <p style=MARGIN:0px><br></p></body>
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<head><title>Exhibit 23.1</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:'Times New Roman'; COLOR:#000000; MARGIN-TOP:0px"> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; LINE-HEIGHT:14.4pt" align=right><b>Exhibit 23.1</b></p> <p style="MARGIN:0px; LINE-HEIGHT:14.4pt" align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; LINE-HEIGHT:14.4pt" align=center><b>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</b></p> <p style="MARGIN:0px; LINE-HEIGHT:14.4pt"><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; LINE-HEIGHT:14.4pt" align=justify>We consent to the incorporation by reference in each of the Registration Statements on Form S-3 (No. 333-206782) and Form S-8 (No. 333-202473) of ITUS Corporation (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>) of our report dated December 22, 2015 relating to our audit of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s consolidated financial statements as of October 31, 2015 and 2014, and for each of the years then ended, included in the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Annual Report on Form 10-K for the year ended October 31, 2015.</p> <p style="MARGIN:0px; LINE-HEIGHT:14.4pt"><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; LINE-HEIGHT:12pt">/s/ Haskell &amp; White LLP</p> <p style="FONT-SIZE:11pt; MARGIN:0px; LINE-HEIGHT:12pt">HASKELL &amp; WHITE LLP</p> <p style="MARGIN:0px; LINE-HEIGHT:14.4pt"><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px; LINE-HEIGHT:14.4pt">Irvine, California</p> <p style="FONT-SIZE:11pt; MARGIN:0px; LINE-HEIGHT:14.4pt">December 22, 2015</p> <p style="MARGIN-BOTTOM:9px; MARGIN-TOP:0px"><br></p> <p style="MARGIN-BOTTOM:9px; MARGIN-TOP:0px"><br><br></p> <p style=MARGIN:0px><br></p></body>
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<head><title>Exhibit 31.1</title> </head> <body> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right><b>Exhibit 31.1</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>PURSUANT TO SECURITIES EXCHANGE ACT RULES 13A-14(A) AND 15D-14(A)</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>AS ADOPTED PURSUANT TO</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:51px" align=justify>I, Robert A. Berman,<font style=FONT-SIZE:10pt> </font>Chairman of the Board and Chief Executive Officer of ITUS Corporation, certify that:</p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">1.</p></td> <td height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>I have reviewed this Annual Report on Form&nbsp;10-K of ITUS Corporation;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">2.</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">4.</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>The registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p> <p style="FONT-SIZE:12pt; MARGIN:0px"><br>&nbsp;</p></td> <td width=22 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(a)</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(b)</p></td> <td height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(c)</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Evaluated the effectiveness of the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(d)</p></td> <td height=6 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Disclosed in this report any change in the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting that occurred during the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s most recent fiscal quarter (the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting; and</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">5.</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>The registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s auditors and the audit committee of the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s board of directors (or persons performing the equivalent functions):</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(a)</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s ability to record, process, summarize and report financial information; and</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(b)</p></td> <td height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting.</p></td></tr></table></p> <p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=384> <td width=246 /> </tr><tr> <td width=384 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Date: December 22, 2015</p></td> <td width=246 height=16 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">/s/&nbsp; Robert A. Berman</p></td></tr> <tr> <td width=384 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=246 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Robert A. Berman</p></td></tr> <tr> <td width=384 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=246 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Chief Executive Officer and Chairman of the Board</p></td></tr></table></p></body>
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<head><title>Exhibit 31.2</title> </head> <body> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right><b>Exhibit 31.2</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff>&nbsp;&nbsp;&nbsp;&nbsp;</font><font style=BACKGROUND-COLOR:#ffffff><b>CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>PURSUANT TO SECURITIES EXCHANGE ACT RULES 13A-14(A) AND 15D-14(A)</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>AS ADOPTED PURSUANT TO</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:51px">I, Henry P. Herms, Vice President <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#150;</font> Finance and Chief Financial Officer of ITUS Corporation, certify that:</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:51px">&nbsp;</p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">1.</p></td> <td height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>I have reviewed this Annual Report on Form&nbsp;10-K of ITUS Corporation;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">2.</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">3.</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">4.</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>The registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(a)</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(b)</p></td> <td height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(c)</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Evaluated the effectiveness of the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(d)</p></td> <td height=66 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Disclosed in this report any change in the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting that occurred during the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s most recent fiscal quarter (the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting; and</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">5.</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>The registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s auditors and the audit committee of the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s board of directors (or persons performing the equivalent functions):</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(a)</p></td> <td height=49 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s ability to record, process, summarize and report financial information; and</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=22> <td /> </tr><tr> <td width=1 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </p></td> <td width=22 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">(b)</p></td> <td height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting.</p></td></tr></table></p> <p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=324> <td width=270 /> </tr><tr> <td width=324 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Date: December 22, 2015</p></td> <td width=270 height=16 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">/s/&nbsp;Henry P. Herms</p></td></tr> <tr> <td width=324 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=270 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Henry P. Herms</p></td></tr> <tr> <td width=324 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=270 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Vice President <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#150;</font> Finance and Chief Financial Officer </p></td></tr></table></p></body>
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<TYPE>EX-32.1
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<head><title>Exhibit 32.1</title> </head> <body> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px"><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right><b>Exhibit 32.1</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>CERTIFICATION PURSUANT TO</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>18 U.S.C. SECTION 1350</font><font style=BACKGROUND-COLOR:#ffffff>,</font><font style=BACKGROUND-COLOR:#ffffff>AS ADOPTED PURSUANT TO</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px">Pursuant to Section 1350 of Title 18 of the United States Code, the undersigned, Robert A. Berman, the Chairman of the Board and Chief Executive Officer of ITUS Corporation, hereby certifies that:</p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">1.</p></td> <td height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>The Company's Form 10-K Annual Report for the fiscal year ended October 31, 2015 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">2.</p></td> <td height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</p></td></tr></table></p> <p> <table  style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=372> <td width=228 /> </tr><tr> <td width=372 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Date: December 22, 2015</p></td> <td width=228 height=16 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">/s/ Robert A. Berman</p></td></tr> <tr> <td width=372 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=228 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Robert A. Berman</p></td></tr> <tr> <td width=372 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=228 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Chief Executive Officer and Chairman of the Board</p></td></tr></table></p></body>
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<TYPE>EX-32.2
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<DESCRIPTION>EXHIBIT 32.2
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<head><title>Exhibit 32.2</title> </head> <body> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right><b>Exhibit 32.2</b></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=right>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>CERTIFICATION PURSUANT TO</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>18 U.S.C. SECTION 1350,</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>AS ADOPTED PURSUANT TO</b></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=BACKGROUND-COLOR:#ffffff><b>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</b></font></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:48px"> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px">Pursuant to Section 1350 of Title 18 of the United States Code, the undersigned, Henry P. Herms, the Vice President - Finance and Chief Financial Officer of ITUS Corporation, hereby certifies that:</p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">1.</p></td> <td height=16 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>The Company's Form 10-K Annual Report for the fiscal year ended October 31, 2015 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</p></td></tr></table></p> <p> <table width=800  style="FONT-SIZE:10pt; WIDTH:800px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=1> <td width=16> <td /> </tr><tr> <td width=1 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=16 height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">2.</p></td> <td height=33 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</p></td></tr></table></p> <p> <table width=725  style="FONT-SIZE:10pt; WIDTH:725px; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td> <td width=257 /> </tr><tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Date: December 22, 2015</p></td> <td width=257 style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">/s/&nbsp;Henry P. Herms</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=257 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Henry P. Herms</p></td></tr> <tr> <td style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">&nbsp;</p></td> <td width=257 style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign=top> <p style="FONT-SIZE:12pt; MARGIN:0px">Vice President <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#150;</font> Finance and Chief Financial Officer </p></td></tr></table></p></body>
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  <us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px;&quot;&gt;&lt;br /&gt;1. &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font style=&quot;text-decoration: underline;&quot;&gt;BUSINESS&amp;nbsp;AND&amp;nbsp;FUNDING&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px&quot;&gt;&lt;u&gt;Description of Business&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;As used herein, &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;we,&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;us,&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;our,&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; or &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ITUS&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; means ITUS Corporation and its wholly-owned subsidiaries. &amp;nbsp;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. &amp;nbsp;In October of 2012 under the leadership of a new management team, the Company undertook a transformation process to recapitalize the Company, unencumber the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s assets, seek reparations from a previous joint development partner, change the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s name and ticker symbol, relocate the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s headquarters and modernize its systems, and monetize patented technologies developed by the Company, or acquired from third parties. In July of 2015, the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s stock was accepted for listing and began trading on the NASDAQ Capital Market. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In June of 2015, the Company announced the formation of a new subsidiary, Anixa Diagnostics Corporation, to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, Anixa entered into a collaborative research agreement &amp;nbsp;with The Wistar Institute, the nation&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating Anixa&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by Anixa and associated with solid tumors. In October of 2015, Anixa and Wistar announced very favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by Anixa, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted. &amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Over the next several quarters, we expect Anixa to be the primary focus of the Company. As part of our legacy operations, the Company has outsourced a small development project in connection with one of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s thin-film display technologies, and through certain of its subsidiary companies, the Company remains engaged in limited patent licensing activities in the areas of encryption, and advanced materials. &amp;nbsp;We do not expect these activities to be a significant part of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s ongoing operations.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Over the past several quarters, our revenue has been derived from technology licensing and the sale of patented technologies, including in connection with the settlement of litigation. In addition to Anixa, the Company expects to make investments in and form new companies to develop additional emerging technologies.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;AUO Lawsuit and Settlement&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;On December 29, 2014, the Company and AUO Optronics Corporation (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;AUO&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) entered into a Settlement Agreement (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Settlement Agreement&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) and a Patent Assignment Agreement (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Patent Assignment Agreement&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; and together with the Settlement Agreement, the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Agreements&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) pursuant to which the Company received an aggregate of $9,000,000 from AUO. &amp;nbsp;The Agreements were entered into to resolve a lawsuit filed by the Company against AUO, relating to the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s patented ePaper&amp;reg; Electrophoretic Display, and Nano Field Emission Display (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;nFED&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) technologies.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;&lt;i&gt;Background&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;In May 2011, the Company entered into an Exclusive License Agreement (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;EPD License Agreement&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) and a License Agreement (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Nano Display License Agreement&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) with AUO (together the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;AUO License Agreements&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;Under the EPD License Agreement, the Company provided AUO with an exclusive, non-transferable, worldwide license to its ePaper&amp;reg; Electrophoretic Display (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;EPD&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) patents and technology, in connection with AUO jointly developing EPD products with the Company. &amp;nbsp;Under the Nano Display License Agreement, the Company provided AUO with a non-exclusive, non-transferable, worldwide license to its Nano Field Emission Display patents and technology, in connection with AUO jointly developing nFED products with the Company. &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;On January 28, 2013, the Company terminated the AUO License Agreements due to numerous alleged material and continual breaches of the agreements by AUO. &amp;nbsp;On January 28, 2013, the Company also filed a lawsuit in the United States District Court for the Northern District of California against AUO and E Ink Corporation in connection with the AUO License Agreements, alleging breach of contract, breach of the implied covenant of good faith and fair dealing, fraudulent inducement, unjust enrichment, unfair business practices, and other charges (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;AUO/E Ink Lawsuit&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;In June 2013, the Company and AUO agreed to arbitrate the charges (the case against E Ink Corporation had been dismissed without prejudice) (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;AUO/E Ink Arbitration&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;).&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;&lt;i&gt;The Agreements&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;Pursuant to the Settlement Agreement, AUO paid the Company $2,000,000 in U.S. currency, net of any Taiwanese withholding taxes. The Settlement Agreement further provides that: &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: symbol;&quot; lang=&quot;EN-US&quot;&gt;&amp;#x25cf;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;the Company will dismiss the AUO/E Ink Lawsuit and AUO/E Ink Arbitration, with prejudice;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: symbol;&quot; lang=&quot;EN-US&quot;&gt;&amp;#x25cf;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;the AUO License Agreements are terminated; &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: symbol;&quot; lang=&quot;EN-US&quot;&gt;&amp;#x25cf;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;AUO gives up all rights to the nFED Technology;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: symbol;&quot; lang=&quot;EN-US&quot;&gt;&amp;#x25cf;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;for a period of two years, the Company agrees not to initiate (whether on its own or through a third party) any patent infringement lawsuits against AUO or its affiliates alleging infringement by AUO&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s or AUO&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s affiliates products or services, for patents owned or controlled by the Company as of the date of the Settlement Agreement. &amp;nbsp;Any potential damages for patent infringement will toll uninterrupted during this two year period. The prohibition does not apply to patents acquired by the Company after the date of the Settlement Agreement; and&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: symbol;&quot; lang=&quot;EN-US&quot;&gt;&amp;#x25cf;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;each of AUO and the Company mutually released each other from all claims that either may have against the other in connection with the AUO License Agreements, including any claims relating to the ePaper&amp;reg; Electrophoretic Display and nFED patents and technologies.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;&amp;nbsp;Pursuant to the Patent Assignment Agreement, AUO paid the Company $7,000,000 in U.S. currency, net of any Taiwanese withholding taxes in exchange for the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s ePaper&amp;reg; Electrophoretic Display patent portfolio for which AUO was previously the exclusive licensee, consisting of: &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: symbol;&quot; lang=&quot;EN-US&quot;&gt;&amp;#x25cf;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;10 active U.S. patents and 1 U.S. pending patent application; and&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: symbol;&quot; lang=&quot;EN-US&quot;&gt;&amp;#x25cf;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;103 expired and/or abandoned U.S. and foreign patents and/or patent applications. &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;In connection with the lawsuit and settlement, the Company incurred a total of approximately $3,604,000 of legal fees and litigation costs.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Unwinding of Business Relationship and Interests with Videocon&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;On August 29, 2014, the Company and CopyTele International Ltd., a wholly-owned subsidiary of the Company (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Subsidiary&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), terminated their business relationship (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Business Relationship&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) with Videocon Industries Limited (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Videocon&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) and Mars Overseas Limited, an affiliate of Videocon (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Mars&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; and together with the Company, the Subsidiary and Videocon, the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Parties&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;The Business Relationship began in November 2007 and related to a proposed joint development effort between the Company and Videocon to develop a certain Nano Field Emission Display technology (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Technology&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;In connection with the proposed joint venture, (i) the Company granted a non-transferable, worldwide license to Videocon for the Technology (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;License&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), (ii) the Subsidiary made a $5 million dollar loan to Mars (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Subsidiary Loan&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), (iii) Mars made an identical $5 million dollar loan to the Subsidiary (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Mars Loan&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; and together with the Subsidiary Loan, the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Loans&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), (iv) the Company sold to Mars 800,000 shares of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Shares&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) and (v) Global EPC Ventures Limited sold to the Company 1,495,845 global depository receipts of Videocon (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;GDRs&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). The Shares and GDRs were subsequently used to secure the Loans.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Because Videocon was unable to continue with its joint development responsibilities, the Technology was not jointly developed by the Parties. Accordingly, the Company and Videocon agreed to terminate the Business Relationship. In order to terminate the Business Relationship, the Parties entered into several agreements whereby: (i) the License was terminated, (ii) both of the Loans were canceled and (iii) the Shares and GDRs were exchanged for each other (collectively, the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Termination Transactions&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). The result of these Termination Transactions was to undo the initial transactions between the Parties that set forth the Business Relationship. Aside from this business relationship there is no other material relationship between the Parties. &amp;nbsp;In accounting for the unwinding of this business relationship, the Company offset the two loans and then recorded its repurchased shares of common stock at the then current fair value of the GDRs and then retired and cancelled those shares.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot;&gt;&lt;u&gt;Funding&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In November 2013, the Company completed a private placement with a single institutional investor, pursuant to which the Company issued a $3,500,000 principal amount 6% convertible debenture due November 11, 2016. &amp;nbsp;On September 9, 2014, the Company and the holder of the Convertible Debenture agreed to a transaction resulting in the conversion of the principal and accrued interest of the Convertible Debenture into 739,958 shares of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock, and the concurrent conversion of 639,159 of such shares of common stock into 3,500 shares of Series A Convertible Preferred Stock. &amp;nbsp;For further details of this transaction see Note 5 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Convertible Debentures&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; herein.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In July 2014, the Company completed the sale of 640,000 shares of its common stock at the offering price of $6.25 per share. &amp;nbsp;The net proceeds from this sale totaled approximately $3,673,000. &amp;nbsp;See Note 6, &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Shareholders&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt; Equity &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Sale of Common Stock&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; for additional information regarding this transaction.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In October 2015, the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Company entered into an At Market Issuance Sales Agreement (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Agreement&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) with National Securities Corporation (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;National&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) to create an at-the-market equity program under which it may sell up to $10,000,000 worth of its common stock (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Shares&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) from time to time through National, as sales agent. The Company has no obligation to sell any of the Shares, and may at any time suspend offers under the Agreement or terminate the Agreement. The Shares will be issued pursuant to the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s previously filed registration statement that was declared effective by the Securities and Exchange Commission (the &quot;SEC&quot;) on September 18, 2015. As of October 31, 2015, no Shares have been sold under the Agreement.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;During the year ended October 31, 2015, cash provided by operating activities was approximately $1,363,000.&amp;nbsp; Cash provided by investing activities was approximately $45,000, which resulted from the proceeds on maturity&amp;nbsp;of certificates of deposit totaling $3,000,000 which was offset by the purchase of certificates of deposit totaling $2,900,000 and the purchase of property and equipment of approximately $55,000.&amp;nbsp; Our cash used in financing activities was approximately $401,000, which resulted from approximately $445,000 for the repurchase of 92,232 shares of our common stock and the cancellation of warrants to purchase 16,000 shares of our common stock, offset by the proceeds from exercise of stock options of approximately $45,000. &amp;nbsp;As a result, our cash, cash equivalents, and short-term investments at October 31, 2015 increased approximately $908,000 to approximately $6,769,000 from approximately $5,861,000 at the end of fiscal year 2014.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;Based on currently available information as of December 21, 2015, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to enable us to continue our business activities for at least 12 months.&amp;nbsp; However, our projections of future cash needs and cash flows may differ from actual results. If current cash on hand, cash equivalents, short term investments and cash that may be generated from our business operations are insufficient to satisfy our liquidity requirements, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&amp;nbsp; The sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in the downward adjustment of the exercise or conversion price of our outstanding securities. We can give no assurance that we will generate sufficient cash flows in the future to satisfy our liquidity requirements or sustain future operations, or that other sources of funding, such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&amp;nbsp; If we cannot obtain such funding if needed or if we cannot sufficiently reduce operating expenses, we would need to curtail or cease some or all of our operations.&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;</us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock>
  <us-gaap:ProceedsFromLegalSettlements unitRef="usd" contextRef="c34_From29Dec2014To29Dec2014_AUOSettlementMember" decimals="0">9000000</us-gaap:ProceedsFromLegalSettlements>
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  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px;&quot;&gt;&lt;br /&gt;2. &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font style=&quot;text-decoration: underline;&quot;&gt;SUMMARY&amp;nbsp;OF&amp;nbsp;SIGNIFICANT&amp;nbsp;ACCOUNTING&amp;nbsp;POLICIES&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Basis of Presentation&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The consolidated financial statements include the accounts of ITUS Corporation and its wholly owned subsidiaries. &amp;nbsp;All intercompany transactions have been eliminated.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&lt;u&gt;Revenue Recognition&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patent Licensing&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In certain instances, our past revenue arrangements have provided for the payment of contractually determined fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company.&amp;nbsp;&amp;nbsp;These arrangements typically include some combination of the following:&amp;nbsp;&amp;nbsp;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&amp;nbsp;&amp;nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&amp;nbsp;&amp;nbsp;Pursuant to the terms of these agreements, we had no further obligations. &amp;nbsp;&amp;nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Display Technology Development and License Fees&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;&lt;font&gt;We assessed the revenue guidance of Accounting Standards Codification (&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;ASC&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;) 605-25 &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Multiple-Element Arrangements&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt; (&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;ASC 605-25&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;) to determine whether&amp;nbsp;multiple deliverables in our arrangements with AUO represent separate units of accounting.&amp;nbsp; Under the AUO License Agreements, we&amp;nbsp;received initial development and&amp;nbsp;license fees of $3 million, of aggregate development and license fees of up to $10 million.&amp;nbsp; The additional $7 million in development and license fees were to be payable upon completion of certain conditions for the respective technologies.&amp;nbsp; We determined that the transfer of the licensed patents and technology and the effort involved in completion of the conditions for the respective technologies represent a single unit of accounting for each technology.&amp;nbsp; Accordingly, using a proportional performance method, during the third quarter of fiscal year 2011 we began recognizing the $3 million initial development and license fees over the estimated periods that we expected to complete the conditions for the respective&amp;nbsp;technologies. Each of the license agreements also provided for the basis for royalty payments on future production, if any, by AUO to the Company, which we have determined represent separate units of accounting.&amp;nbsp;&amp;nbsp;We did not recognize any portion of the $7 million of additional development and license fees or any royalty income under the AUO License Agreements. &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;&lt;font&gt;As a result of the AUO/E Ink Lawsuit described above we did not record any display technology development and license fee revenue during the period from the fourth quarter of fiscal 2012 through the second quarter of fiscal year 2014 due to uncertainty as to our remaining performance obligations, if any. &amp;nbsp;Based on our assessment performed for the third quarter of fiscal 2014, we determined that we have no further performance obligations under the AUO License Agreements and accordingly we recognized display technology development and license fee revenue of approximately $1,187,000, representing the balance of the initial $3 million payment received from AUO.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;&lt;font&gt;On December 29, 2014, we settled our lawsuit against AUO and received gross proceeds of $9 million which was recognized as revenue in the first quarter of fiscal 2015 (see Note 1 &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Business and Funding &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2013;&lt;/font&gt; Description of Business - AUO Lawsuit and Settlement &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;).&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Inventor Royalties and Contingent Legal Fees&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Inventor royalties and contingent legal fees are expensed in the consolidated statements of operations in the period that the related revenues are recognized.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Anixa Development Expenses&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Anixa development expenses are expensed in the consolidated statements of operations in the period incurred.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Fair Value Measurements&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;ASC 820 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Fair Value Measurements and Disclosures&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 820&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) defines fair value, establishes a framework for measuring fair value under GAAP, and expands disclosures about fair value measurements. &amp;nbsp;In accordance with ASC 820, we have categorized our financial assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. &amp;nbsp;If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Financial assets and liabilities recorded in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Level 1 - Financial instruments whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which we have the ability to access at the measurement date.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Level 2 - Financial instruments whose values are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Level 3 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Financial instruments whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. &amp;nbsp;These inputs reflect management&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s own assumptions about the assumptions a market participant would use in pricing the instrument. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;192&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;104&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Money market funds &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2013;&lt;/font&gt; Cash &amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;and cash equivalents&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;467,967&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 4px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;467,967&lt;/p&gt;&lt;/td&gt;
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    &lt;tr&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Certificates of deposit -&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Short term investments&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2,400,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;2,400,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;justify&quot;&gt;Total financial assets&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;467,967&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;$ 2,400,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,867,967&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2014:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;192&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;90&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;18&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;84&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;18&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;77&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;15&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;104&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;192&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;192&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Money market funds &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Cash &amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;and cash equivalents&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;155,964&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;- &lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;155,964&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;192&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Certificates of deposit -&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Short term investments&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,500,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;2,500,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;192&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Total financial assets&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;155,964&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,500,000&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,655,964&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;228&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;28&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;87&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;54&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;51&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;100&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;Patent acquisition obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,688,187&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,688,187&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2014:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;228&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;28&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;87&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;54&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;51&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;100&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;Patent acquisition obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,236,281&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,236,281&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table sets forth a summary of the changes in the fair value of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s Level 3 financial liabilities that are measured at fair value on a recurring basis:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;485&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;center&quot;&gt;For the two &lt;br /&gt;years ended &lt;br /&gt;October 31, &lt;br /&gt;2015&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patent acquisition obligation:&lt;/u&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2013&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Initial fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,850,511&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;485&quot; height=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Accretion of interest on patent obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp; &lt;/td&gt;
     &lt;td width=&quot;109&quot; height=&quot;8&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;385,770&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2014&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;3,236,281&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Accretion of interest on patent obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;451,906&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2015&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 3px double&quot;&gt;&lt;font size=&quot;3&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;3,688,187&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Our non-financial assets that are measured on a non-recurring basis include our property and equipment which are measured using fair value techniques whenever events or changes in circumstances indicate a condition of impairment exists. &amp;nbsp;The estimated fair value of prepaid expenses, accounts payable and accrued expenses approximates their individual carrying amounts due to the short term nature of these measurements. &amp;nbsp;Cash and cash equivalents are stated at carrying value which approximates fair value.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-BOTTOM:0px; MARGIN:0px; TEXT-INDENT:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Cash and Cash Equivalents&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Cash equivalents consists of highly liquid, short term investments with original maturities of three months or less when purchased.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Short-term Investments&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;At October 31, 2015 and 2014, we had certificates of deposit with maturities greater than 90 days when acquired of $2,400,000 and $2,500,000, respectively, that were classified as short-term investments and reported at fair value. &amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patents&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Our only identifiable intangible assets are patents and patent rights. &amp;nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. &amp;nbsp;Patent acquisition costs capitalized during the years ended October 31, 2015 and 2014, was approximately $-0- and $3,036,000, respectively. &amp;nbsp;We recorded patent amortization expense of approximately $325,000 and $314,000 during the years ended October 31, 2015 and 2014, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Investment Securities&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We classify our investment securities as available-for-sale. &amp;nbsp;Available-for-sale securities are recorded at fair value. &amp;nbsp;Unrealized gains and losses, net of the related tax effect, on available-for-sale securities are excluded from earnings and are reported as a component of accumulated other comprehensive income (loss) until realized. &amp;nbsp;Realized gains and losses from the sale of available-for-sale securities are determined on a specific identification basis. &amp;nbsp;Dividend and interest income are recognized when earned.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We monitor the value of our investments for indicators of impairment, including changes in market conditions and the operating results of the underlying investment that may result in the inability to recover the carrying value of the investment. &amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Convertible Instruments&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company accounts for hybrid contracts that feature conversion options in accordance with applicable generally accepted accounting principles (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;GAAP&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;).&amp;nbsp; ASC &amp;nbsp;815 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Derivatives and Hedging Activities,&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 815&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b)&amp;nbsp;the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c)&amp;nbsp;a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; The Company accounts for convertible instruments, when the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, in accordance with ASC 470-20 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Debt with Conversion and Other Options&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 470-20&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). Under ASC 470-20, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company accounts for convertible instruments (when the Company has determined that the embedded conversion options should be bifurcated from their host instruments) in accordance with ASC 815.&amp;nbsp;&amp;nbsp;Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract are allocated to the fair value of the derivative. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; The conversion features of the convertible debentures issued in January 2013 and November 2013 qualified as embedded derivative instruments and were bifurcated from the host convertible debentures.&amp;nbsp; Derivative liabilities are initially recorded at fair value and are then re-valued at each reporting date, with changes in fair value recognized in earnings during the reporting period.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Common Stock Purchase Warrants&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company classifies as equity any contracts that (i)&amp;nbsp;require physical settlement or net-share settlement or (ii) provides a choice of net-cash settlement or settlement in the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s own shares (physical settlement or net-share settlement)&amp;nbsp;providing that such contracts are indexed to the Company&apos;s own stock as defined in ASC 815-40 &quot;Contracts in Entity&apos;s Own Equity&quot;. The Company classifies as assets or liabilities any contracts that (i)&amp;nbsp;require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s control) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement).&amp;nbsp;&amp;nbsp;The Company assesses classification of common stock purchase warrants and other free standing derivatives at each reporting date to determine whether a change in classification between assets and liabilities or equity is required.&lt;br /&gt;&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Income Taxes&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We recognize deferred tax assets and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. &amp;nbsp;A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot;&gt;&lt;u&gt;Stock-Based Compensation&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We maintain stock equity incentive plans under which we may grant non-qualified stock options, incentive stock options, stock appreciation rights, stock awards, performance and performance-based awards, or stock units to employees, non-employee directors and consultants.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Stock Option Compensation Expense&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We account for stock options granted to employees and directors using the accounting guidance in ASC 718 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Stock Compensation&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 718&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;In accordance with ASC 718, we estimate the fair value of service based options and performance based options on the date of grant, using the Black-Scholes pricing model. &amp;nbsp;For options vesting if the trading price of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock achieves a defined target, we use a Monte Carlo simulation in estimating the fair value at grant date. We recognize compensation expense for stock option awards over the requisite or implied service period of the grant. &amp;nbsp;With respect to performance based awards, compensation expense is recognized when the performance target is deemed probable. &amp;nbsp;We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $2,192,000 and $2,128,000, during the years ended October 31, 2015 and 2014, respectively. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Included in stock-based compensation cost for employees and directors during the years ended October 31, 2015 and 2014 was approximately $2,092,781 and $1,426,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but not yet vested. &amp;nbsp;As of October 31, 2015, there was unrecognized compensation cost related to non-vested stock options granted to employees and directors, related to service based options of approximately $432,000 which will be recognized over a weighted-average period of 1.1 years. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We account for stock options granted to consultants using the accounting guidance included in ASC 505-50 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Equity-Based Payments to Non-Employees&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 505-50&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;In accordance with ASC 505-50, we estimate the fair value of service based stock options and performance based options at each reporting period, using the Black-Scholes pricing model. &amp;nbsp;For options vesting if the trading price of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock achieves a defined target we estimate the fair value at each reporting period using a Monte Carlo simulation. &amp;nbsp;We recognize compensation expense for service based stock options and options subject to market conditions over the requisite or implied service period of the grant. &amp;nbsp;For performance based awards, compensation expense is recognized when the performance target is achieved.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We recorded consulting expense, related to stock options granted to consultants, during the years ended October 31, 2015 and 2014 of approximately $484,000 and $1,022,000, respectively. Stock-based consulting expense for the years ended October 31, 2015 and 2014 includes approximately $484,000 and $964,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of October 31, 2015, there was no unrecognized consulting expense related to non-vested stock options granted to consultants. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Fair Value Determination&lt;/u&gt; &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We use the Black-Scholes pricing model in estimating the fair value of stock options which vest over a specific period of time or upon achieving performance targets. &amp;nbsp;To determine the weighted average fair value of stock options on the date of grant, employees and directors are included in a single group. &amp;nbsp;The fair value of stock options granted to consultants is determined on an individual basis. &amp;nbsp;The stock options we granted during the year ended October 31, 2015 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months. The stock options we granted during the year ended October 31, 2014 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months, options with 5-year terms which vest immediately and options with 10-year terms which vest upon achievement of performance milestones. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following weighted average assumptions were used in estimating the fair value of stock options granted during the years ended October 31, 2015 and 2014: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;280&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;78&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;78&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;For the Year &lt;br /&gt;Ended October 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Weighted average fair value at grant date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$3.09&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$5.75&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Valuation assumptions:&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Expected life ( years) &lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;5.75&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;5.80&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;117.8%&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;115.3%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;2.01%&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;1.82%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Expected dividend yield&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;0&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;0&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The expected term of stock options represents the weighted average period the stock options are expected to remain outstanding. &amp;nbsp;We use the simplified method to determine expected term. &amp;nbsp;The simplified method was adopted since we do not believe that historical experience is representative of future performance because of the impact of the changes in our operations and the change in terms from historical options which vested immediately to terms including vesting periods of up to three years. &amp;nbsp;Under the Black-Scholes pricing model, we estimated the expected volatility of our shares of common stock based upon the historical volatility of our share price over a period of time equal to the expected term of the options. &amp;nbsp;We estimated the risk-free interest rate based on the implied yield available on the applicable grant date of a U.S. Treasury note with a term equal to the expected term of the underlying grants. &amp;nbsp;We made the dividend yield assumption based on our history of not paying dividends and our expectation not to pay dividends in the future.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Under ASC 718, the amount of stock-based compensation expense recognized is based on the portion of the awards that are ultimately expected to vest. &amp;nbsp;Accordingly, if deemed necessary, we reduce the fair value of the stock option awards for expected forfeitures, which are forfeitures of the unvested portion of surrendered options. &amp;nbsp;Based on our historical experience and future expectations, we have not reduced the amount of stock-based compensation expenses for anticipated forfeitures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We will reconsider use of the Black-Scholes pricing model if additional information becomes available in the future that indicates another model would be more appropriate. &amp;nbsp;If factors change and we employ different assumptions in the application of ASC 718 in future periods, the compensation expense that we record under ASC 718 may differ significantly from what we have recorded in the current period.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Net&amp;nbsp;Loss&amp;nbsp;Per&amp;nbsp;Share of Common Stock&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;In accordance with ASC 260, &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Earnings Per Share&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;, basic net loss per common share (&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Basic EPS&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;) is computed by dividing net loss by the weighted average number of common shares outstanding. &amp;nbsp;Diluted net loss per common share (&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Diluted EPS&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;) is computed by dividing net loss by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. &amp;nbsp;Diluted EPS for all years presented is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. &amp;nbsp;For this reason, excluded from the calculation of Diluted EPS for the years ended October 31, 2015 and 2014, were options to purchase 2,672,471 and 3,002,550 shares, respectively, warrants to purchase 1,028,931 shares and 1,044,931 shares, respectively, preferred stock convertible into 739,958 shares.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Use of Estimates&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. &amp;nbsp;Estimates and assumptions are used for, but not limited to, determining stock-based compensation, asset impairment evaluations, tax assets and liabilities, license fee revenue, the allowance for doubtful accounts, depreciation lives and other contingencies. &amp;nbsp;Actual results could differ from those estimates.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;u&gt;Effect of Recently Issued Pronouncements&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In May 2014, the Financial Accounting Standards Board (&quot;FASB&quot;) issued Accounting Standards Update 2014-09 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2014-09&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), Revenue from Contracts with Customers. &amp;nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &amp;nbsp;This standard update is effective for&amp;nbsp;interim and annual&amp;nbsp;reporting periods beginning after December 15,&amp;nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &amp;nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In June 2014, the FASB issued Accounting Standards Update 2014-12 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2014-12&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), Compensation &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Stock Compensation. &amp;nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In August 2014, the FASB issued Accounting Standards Update 2014-15 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2014-15&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;This amendment requires management to assess an entity&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In April 2015, the FASB issued Accounting Standards Update 2015-03 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2015-03&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. Adoption of this standard is required for interim and annual periods beginning after December 15, 2015 and is to be applied retrospectively. We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot;&gt;In November 2015, the FASB issued Accounting Standards Update 2015-17 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2015-17&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &amp;nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Concentration of Credit Risks&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Financial instruments that potentially subject us to concentrations of credit risk are cash equivalents, short-term investments and accounts receivable. &amp;nbsp;Cash equivalents are primarily highly rated money market funds. Short-term investments are certificates of deposit within federally insured limits. Where applicable, management reviews our accounts receivable and other receivables for potential doubtful accounts and maintains an allowance for estimated uncollectible amounts. Our policy is to write-off uncollectable amounts at the time it is determined that collection will not occur. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Three licensees accounted for 53%, 37% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2015. Four licensees accounted for 22%, 16%, 14% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2014.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Basis of Presentation&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The consolidated financial statements include the accounts of ITUS Corporation and its wholly owned subsidiaries. &amp;nbsp;All intercompany transactions have been eliminated.&lt;/p&gt;</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
  <us-gaap:RevenueRecognitionPolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Revenue Recognition&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patent Licensing&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In certain instances, our past revenue arrangements have provided for the payment of contractually determined fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company.&amp;nbsp;&amp;nbsp;These arrangements typically include some combination of the following:&amp;nbsp;&amp;nbsp;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&amp;nbsp;&amp;nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&amp;nbsp;&amp;nbsp;Pursuant to the terms of these agreements, we had no further obligations. &amp;nbsp;&amp;nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Display Technology Development and License Fees&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;&lt;font&gt;We assessed the revenue guidance of Accounting Standards Codification (&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;ASC&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;) 605-25 &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Multiple-Element Arrangements&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt; (&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;ASC 605-25&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;) to determine whether&amp;nbsp;multiple deliverables in our arrangements with AUO represent separate units of accounting.&amp;nbsp; Under the AUO License Agreements, we&amp;nbsp;received initial development and&amp;nbsp;license fees of $3 million, of aggregate development and license fees of up to $10 million.&amp;nbsp; The additional $7 million in development and license fees were to be payable upon completion of certain conditions for the respective technologies.&amp;nbsp; We determined that the transfer of the licensed patents and technology and the effort involved in completion of the conditions for the respective technologies represent a single unit of accounting for each technology.&amp;nbsp; Accordingly, using a proportional performance method, during the third quarter of fiscal year 2011 we began recognizing the $3 million initial development and license fees over the estimated periods that we expected to complete the conditions for the respective&amp;nbsp;technologies. Each of the license agreements also provided for the basis for royalty payments on future production, if any, by AUO to the Company, which we have determined represent separate units of accounting.&amp;nbsp;&amp;nbsp;We did not recognize any portion of the $7 million of additional development and license fees or any royalty income under the AUO License Agreements. &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;&lt;font&gt;As a result of the AUO/E Ink Lawsuit described above we did not record any display technology development and license fee revenue during the period from the fourth quarter of fiscal 2012 through the second quarter of fiscal year 2014 due to uncertainty as to our remaining performance obligations, if any. &amp;nbsp;Based on our assessment performed for the third quarter of fiscal 2014, we determined that we have no further performance obligations under the AUO License Agreements and accordingly we recognized display technology development and license fee revenue of approximately $1,187,000, representing the balance of the initial $3 million payment received from AUO.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;&lt;font&gt;On December 29, 2014, we settled our lawsuit against AUO and received gross proceeds of $9 million which was recognized as revenue in the first quarter of fiscal 2015 (see Note 1 &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Business and Funding &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2013;&lt;/font&gt; Description of Business - AUO Lawsuit and Settlement &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;).&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Inventor Royalties and Contingent Legal Fees&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Inventor royalties and contingent legal fees are expensed in the consolidated statements of operations in the period that the related revenues are recognized.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Anixa Development Expenses&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Anixa development expenses are expensed in the consolidated statements of operations in the period incurred.&lt;/p&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
  <us-gaap:LicenseAndServicesRevenue unitRef="usd" contextRef="c47_From1Nov2014To31Oct2015_AUOLicenseAgreementMember" decimals="-6">3000000</us-gaap:LicenseAndServicesRevenue>
  <itus:LicenseAgreementAggregateLicenseFee unitRef="usd" contextRef="c48_AsOf31Oct2015_AUOLicenseAgreementMember" decimals="-6">10000000</itus:LicenseAgreementAggregateLicenseFee>
  <itus:LicenseAgreementContingentLicenseFeeReceivable unitRef="usd" contextRef="c48_AsOf31Oct2015_AUOLicenseAgreementMember" decimals="-6">7000000</itus:LicenseAgreementContingentLicenseFeeReceivable>
  <us-gaap:DeferredRevenueCurrent unitRef="usd" contextRef="c49_AsOf31Oct2014_AUOLicenseAgreementMember" decimals="0">1187000</us-gaap:DeferredRevenueCurrent>
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  <us-gaap:FairValueMeasurementPolicyPolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Fair Value Measurements&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;ASC 820 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Fair Value Measurements and Disclosures&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 820&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) defines fair value, establishes a framework for measuring fair value under GAAP, and expands disclosures about fair value measurements. &amp;nbsp;In accordance with ASC 820, we have categorized our financial assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. &amp;nbsp;If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Financial assets and liabilities recorded in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Level 1 - Financial instruments whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which we have the ability to access at the measurement date.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Level 2 - Financial instruments whose values are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Level 3 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Financial instruments whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. &amp;nbsp;These inputs reflect management&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s own assumptions about the assumptions a market participant would use in pricing the instrument. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;192&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;104&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Money market funds &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2013;&lt;/font&gt; Cash &amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;and cash equivalents&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;467,967&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 4px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;467,967&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Certificates of deposit -&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Short term investments&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2,400,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;2,400,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;justify&quot;&gt;Total financial assets&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;467,967&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;$ 2,400,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,867,967&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2014:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;192&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;90&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;18&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;84&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;18&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;77&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;15&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;104&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;192&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;192&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Money market funds &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Cash &amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;and cash equivalents&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;155,964&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;- &lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;155,964&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;192&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Certificates of deposit -&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Short term investments&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,500,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;2,500,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;192&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Total financial assets&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;155,964&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,500,000&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,655,964&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;228&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;28&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;87&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;54&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;51&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;100&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;Patent acquisition obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,688,187&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,688,187&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2014:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;228&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;28&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;87&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;54&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;51&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;100&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;Patent acquisition obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,236,281&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,236,281&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table sets forth a summary of the changes in the fair value of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s Level 3 financial liabilities that are measured at fair value on a recurring basis:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;485&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;center&quot;&gt;For the two &lt;br /&gt;years ended &lt;br /&gt;October 31, &lt;br /&gt;2015&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patent acquisition obligation:&lt;/u&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2013&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Initial fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,850,511&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;485&quot; height=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Accretion of interest on patent obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp; &lt;/td&gt;
     &lt;td width=&quot;109&quot; height=&quot;8&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;385,770&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2014&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;3,236,281&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Accretion of interest on patent obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;451,906&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2015&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 3px double&quot;&gt;&lt;font size=&quot;3&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;3,688,187&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Our non-financial assets that are measured on a non-recurring basis include our property and equipment which are measured using fair value techniques whenever events or changes in circumstances indicate a condition of impairment exists. &amp;nbsp;The estimated fair value of prepaid expenses, accounts payable and accrued expenses approximates their individual carrying amounts due to the short term nature of these measurements. &amp;nbsp;Cash and cash equivalents are stated at carrying value which approximates fair value.&lt;/p&gt;</us-gaap:FairValueMeasurementPolicyPolicyTextBlock>
  <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;FONT-SIZE:11pt; PADDING-BOTTOM:0px; MARGIN:0px; TEXT-INDENT:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Cash and Cash Equivalents&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Cash equivalents consists of highly liquid, short term investments with original maturities of three months or less when purchased.&lt;/p&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <us-gaap:InvestmentPolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Short-term Investments&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;At October 31, 2015 and 2014, we had certificates of deposit with maturities greater than 90 days when acquired of $2,400,000 and $2,500,000, respectively, that were classified as short-term investments and reported at fair value.&lt;/p&gt;</us-gaap:InvestmentPolicyTextBlock>
  <us-gaap:IntangibleAssetsFiniteLivedPolicy contextRef="c50_From1Nov2014To31Oct2015_PatentsMember">&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patents&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Our only identifiable intangible assets are patents and patent rights. &amp;nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. &amp;nbsp;Patent acquisition costs capitalized during the years ended October 31, 2015 and 2014, was approximately $-0- and $3,036,000, respectively. &amp;nbsp;We recorded patent amortization expense of approximately $325,000 and $314,000 during the years ended October 31, 2015 and 2014, respectively.&lt;/p&gt;</us-gaap:IntangibleAssetsFiniteLivedPolicy>
  <us-gaap:AcquisitionCosts unitRef="usd" contextRef="c50_From1Nov2014To31Oct2015_PatentsMember" decimals="0">0</us-gaap:AcquisitionCosts>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized unitRef="usd" contextRef="c51_AsOf31Oct2015_StockAwardGrantedToEmployeesAndConsultantsMember" decimals="0">0</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
  <us-gaap:AcquisitionCosts unitRef="usd" contextRef="c52_From1Nov2013To31Oct2014_PatentsMember" decimals="0">3036000</us-gaap:AcquisitionCosts>
  <us-gaap:AmortizationOfAcquisitionCosts unitRef="usd" contextRef="c50_From1Nov2014To31Oct2015_PatentsMember" decimals="0">325000</us-gaap:AmortizationOfAcquisitionCosts>
  <us-gaap:AmortizationOfAcquisitionCosts unitRef="usd" contextRef="c52_From1Nov2013To31Oct2014_PatentsMember" decimals="0">314000</us-gaap:AmortizationOfAcquisitionCosts>
  <us-gaap:MarketableSecuritiesPolicy contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Investment Securities&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We classify our investment securities as available-for-sale. &amp;nbsp;Available-for-sale securities are recorded at fair value. &amp;nbsp;Unrealized gains and losses, net of the related tax effect, on available-for-sale securities are excluded from earnings and are reported as a component of accumulated other comprehensive income (loss) until realized. &amp;nbsp;Realized gains and losses from the sale of available-for-sale securities are determined on a specific identification basis. &amp;nbsp;Dividend and interest income are recognized when earned.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We monitor the value of our investments for indicators of impairment, including changes in market conditions and the operating results of the underlying investment that may result in the inability to recover the carrying value of the investment.&lt;/p&gt;</us-gaap:MarketableSecuritiesPolicy>
  <itus:ConvertibleInstrumentPolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Convertible Instruments&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company accounts for hybrid contracts that feature conversion options in accordance with applicable generally accepted accounting principles (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;GAAP&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;).&amp;nbsp; ASC &amp;nbsp;815 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Derivatives and Hedging Activities,&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 815&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b)&amp;nbsp;the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c)&amp;nbsp;a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; The Company accounts for convertible instruments, when the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, in accordance with ASC 470-20 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Debt with Conversion and Other Options&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 470-20&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). Under ASC 470-20, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company accounts for convertible instruments (when the Company has determined that the embedded conversion options should be bifurcated from their host instruments) in accordance with ASC 815.&amp;nbsp;&amp;nbsp;Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract are allocated to the fair value of the derivative. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; The conversion features of the convertible debentures issued in January 2013 and November 2013 qualified as embedded derivative instruments and were bifurcated from the host convertible debentures.&amp;nbsp; Derivative liabilities are initially recorded at fair value and are then re-valued at each reporting date, with changes in fair value recognized in earnings during the reporting period.&lt;/p&gt;</itus:ConvertibleInstrumentPolicyTextBlock>
  <us-gaap:StockholdersEquityPolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Common Stock Purchase Warrants&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company classifies as equity any contracts that (i)&amp;nbsp;require physical settlement or net-share settlement or (ii) provides a choice of net-cash settlement or settlement in the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s own shares (physical settlement or net-share settlement)&amp;nbsp;providing that such contracts are indexed to the Company&apos;s own stock as defined in ASC 815-40 &quot;Contracts in Entity&apos;s Own Equity&quot;. The Company classifies as assets or liabilities any contracts that (i)&amp;nbsp;require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s control) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement).&amp;nbsp;&amp;nbsp;The Company assesses classification of common stock purchase warrants and other free standing derivatives at each reporting date to determine whether a change in classification between assets and liabilities or equity is required.&lt;/p&gt;</us-gaap:StockholdersEquityPolicyTextBlock>
  <us-gaap:IncomeTaxPolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Income Taxes&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We recognize deferred tax assets and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. &amp;nbsp;A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized.&lt;/p&gt;</us-gaap:IncomeTaxPolicyTextBlock>
  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot;&gt;&lt;u&gt;Stock-Based Compensation&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We maintain stock equity incentive plans under which we may grant non-qualified stock options, incentive stock options, stock appreciation rights, stock awards, performance and performance-based awards, or stock units to employees, non-employee directors and consultants.&lt;/p&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
  <us-gaap:CompensationRelatedCostsPolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Stock Option Compensation Expense&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We account for stock options granted to employees and directors using the accounting guidance in ASC 718 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Stock Compensation&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 718&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;In accordance with ASC 718, we estimate the fair value of service based options and performance based options on the date of grant, using the Black-Scholes pricing model. &amp;nbsp;For options vesting if the trading price of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock achieves a defined target, we use a Monte Carlo simulation in estimating the fair value at grant date. We recognize compensation expense for stock option awards over the requisite or implied service period of the grant. &amp;nbsp;With respect to performance based awards, compensation expense is recognized when the performance target is deemed probable. &amp;nbsp;We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $2,192,000 and $2,128,000, during the years ended October 31, 2015 and 2014, respectively. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Included in stock-based compensation cost for employees and directors during the years ended October 31, 2015 and 2014 was approximately $2,092,781 and $1,426,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but not yet vested. &amp;nbsp;As of October 31, 2015, there was unrecognized compensation cost related to non-vested stock options granted to employees and directors, related to service based options of approximately $432,000 which will be recognized over a weighted-average period of 1.1 years. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We account for stock options granted to consultants using the accounting guidance included in ASC 505-50 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Equity-Based Payments to Non-Employees&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 505-50&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;In accordance with ASC 505-50, we estimate the fair value of service based stock options and performance based options at each reporting period, using the Black-Scholes pricing model. &amp;nbsp;For options vesting if the trading price of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock achieves a defined target we estimate the fair value at each reporting period using a Monte Carlo simulation. &amp;nbsp;We recognize compensation expense for service based stock options and options subject to market conditions over the requisite or implied service period of the grant. &amp;nbsp;For performance based awards, compensation expense is recognized when the performance target is achieved.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We recorded consulting expense, related to stock options granted to consultants, during the years ended October 31, 2015 and 2014 of approximately $484,000 and $1,022,000, respectively. Stock-based consulting expense for the years ended October 31, 2015 and 2014 includes approximately $484,000 and $964,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of October 31, 2015, there was no unrecognized consulting expense related to non-vested stock options granted to consultants.&lt;/p&gt;</us-gaap:CompensationRelatedCostsPolicyTextBlock>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c53_From1Nov2014To31Oct2015_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">2192000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c54_From1Nov2013To31Oct2014_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">2128000</us-gaap:ShareBasedCompensation>
  <itus:AmortizationRelatedToCompensationCost unitRef="usd" contextRef="c53_From1Nov2014To31Oct2015_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">2092781</itus:AmortizationRelatedToCompensationCost>
  <itus:AmortizationRelatedToCompensationCost unitRef="usd" contextRef="c54_From1Nov2013To31Oct2014_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">1426000</itus:AmortizationRelatedToCompensationCost>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized unitRef="usd" contextRef="c55_AsOf31Oct2015_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">432000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="c53_From1Nov2014To31Oct2015_StockOptionsGrantedToEmployeesAndDirectorsMember">P1Y36D</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c56_From1Nov2014To31Oct2015_StockAwardGrantedToEmployeesAndConsultantsMember" decimals="0">484000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c57_From1Nov2013To31Oct2014_StockAwardGrantedToEmployeesAndConsultantsMember" decimals="0">1022000</us-gaap:ShareBasedCompensation>
  <itus:AmortizationRelatedToCompensationCost unitRef="usd" contextRef="c56_From1Nov2014To31Oct2015_StockAwardGrantedToEmployeesAndConsultantsMember" decimals="0">484000</itus:AmortizationRelatedToCompensationCost>
  <itus:AmortizationRelatedToCompensationCost unitRef="usd" contextRef="c57_From1Nov2013To31Oct2014_StockAwardGrantedToEmployeesAndConsultantsMember" decimals="0">964000</itus:AmortizationRelatedToCompensationCost>
  <us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Fair Value Determination&lt;/u&gt; &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We use the Black-Scholes pricing model in estimating the fair value of stock options which vest over a specific period of time or upon achieving performance targets. &amp;nbsp;To determine the weighted average fair value of stock options on the date of grant, employees and directors are included in a single group. &amp;nbsp;The fair value of stock options granted to consultants is determined on an individual basis. &amp;nbsp;The stock options we granted during the year ended October 31, 2015 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months. The stock options we granted during the year ended October 31, 2014 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months, options with 5-year terms which vest immediately and options with 10-year terms which vest upon achievement of performance milestones. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following weighted average assumptions were used in estimating the fair value of stock options granted during the years ended October 31, 2015 and 2014: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;280&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;78&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;78&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;For the Year &lt;br /&gt;Ended October 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Weighted average fair value at grant date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$3.09&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$5.75&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Valuation assumptions:&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Expected life ( years) &lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;5.75&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;5.80&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;117.8%&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;115.3%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;2.01%&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;1.82%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Expected dividend yield&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;0&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;0&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The expected term of stock options represents the weighted average period the stock options are expected to remain outstanding. &amp;nbsp;We use the simplified method to determine expected term. &amp;nbsp;The simplified method was adopted since we do not believe that historical experience is representative of future performance because of the impact of the changes in our operations and the change in terms from historical options which vested immediately to terms including vesting periods of up to three years. &amp;nbsp;Under the Black-Scholes pricing model, we estimated the expected volatility of our shares of common stock based upon the historical volatility of our share price over a period of time equal to the expected term of the options. &amp;nbsp;We estimated the risk-free interest rate based on the implied yield available on the applicable grant date of a U.S. Treasury note with a term equal to the expected term of the underlying grants. &amp;nbsp;We made the dividend yield assumption based on our history of not paying dividends and our expectation not to pay dividends in the future.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Under ASC 718, the amount of stock-based compensation expense recognized is based on the portion of the awards that are ultimately expected to vest. &amp;nbsp;Accordingly, if deemed necessary, we reduce the fair value of the stock option awards for expected forfeitures, which are forfeitures of the unvested portion of surrendered options. &amp;nbsp;Based on our historical experience and future expectations, we have not reduced the amount of stock-based compensation expenses for anticipated forfeitures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We will reconsider use of the Black-Scholes pricing model if additional information becomes available in the future that indicates another model would be more appropriate. &amp;nbsp;If factors change and we employ different assumptions in the application of ASC 718 in future periods, the compensation expense that we record under ASC 718 may differ significantly from what we have recorded in the current period.&lt;/p&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription contextRef="c58_From1Nov2014To31Oct2015_AwardsOfOptionsWith10YearTermsMember">The stock options we granted during the year ended October 31, 2015 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months.</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription contextRef="c59_From1Nov2013To31Oct2014_AwardsOfOptionsWith10YearTermsMember">The stock options we granted during the year ended October 31, 2014 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months, options with 5-year terms which vest immediately and options with 10-year terms which vest upon achievement of performance milestones.</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription>
  <us-gaap:EarningsPerSharePolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Net&amp;nbsp;Loss&amp;nbsp;Per&amp;nbsp;Share of Common Stock&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;In accordance with ASC 260, &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Earnings Per Share&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;, basic net loss per common share (&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Basic EPS&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;) is computed by dividing net loss by the weighted average number of common shares outstanding. &amp;nbsp;Diluted net loss per common share (&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Diluted EPS&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;) is computed by dividing net loss by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. &amp;nbsp;Diluted EPS for all years presented is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. &amp;nbsp;For this reason, excluded from the calculation of Diluted EPS for the years ended October 31, 2015 and 2014, were options to purchase 2,672,471 and 3,002,550 shares, respectively, warrants to purchase 1,028,931 shares and 1,044,931 shares, respectively, preferred stock convertible into 739,958 shares.&lt;/p&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c60_From1Nov2014To31Oct2015_EmployeeStockOptionMember" decimals="INF">2672471</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c61_From1Nov2013To31Oct2014_EmployeeStockOptionMember" decimals="INF">3002550</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c62_From1Nov2014To31Oct2015_WarrantMember" decimals="INF">1028931</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c63_From1Nov2013To31Oct2014_WarrantMember" decimals="INF">1044931</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c64_From1Nov2014To31Oct2015_ConvertiblePreferredStockMember" decimals="INF">739958</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:UseOfEstimates contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Use of Estimates&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. &amp;nbsp;Estimates and assumptions are used for, but not limited to, determining stock-based compensation, asset impairment evaluations, tax assets and liabilities, license fee revenue, the allowance for doubtful accounts, depreciation lives and other contingencies. &amp;nbsp;Actual results could differ from those estimates.&lt;/p&gt;</us-gaap:UseOfEstimates>
  <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;u&gt;Effect of Recently Issued Pronouncements&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In May 2014, the Financial Accounting Standards Board (&quot;FASB&quot;) issued Accounting Standards Update 2014-09 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2014-09&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), Revenue from Contracts with Customers. &amp;nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &amp;nbsp;This standard update is effective for&amp;nbsp;interim and annual&amp;nbsp;reporting periods beginning after December 15,&amp;nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &amp;nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In June 2014, the FASB issued Accounting Standards Update 2014-12 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2014-12&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), Compensation &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Stock Compensation. &amp;nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In August 2014, the FASB issued Accounting Standards Update 2014-15 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2014-15&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;This amendment requires management to assess an entity&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In April 2015, the FASB issued Accounting Standards Update 2015-03 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2015-03&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. Adoption of this standard is required for interim and annual periods beginning after December 15, 2015 and is to be applied retrospectively. We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot;&gt;In November 2015, the FASB issued Accounting Standards Update 2015-17 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2015-17&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &amp;nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
  <us-gaap:ConcentrationRiskCreditRisk contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Concentration of Credit Risks&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Financial instruments that potentially subject us to concentrations of credit risk are cash equivalents, short-term investments and accounts receivable. &amp;nbsp;Cash equivalents are primarily highly rated money market funds. Short-term investments are certificates of deposit within federally insured limits. Where applicable, management reviews our accounts receivable and other receivables for potential doubtful accounts and maintains an allowance for estimated uncollectible amounts. Our policy is to write-off uncollectable amounts at the time it is determined that collection will not occur. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Three licensees accounted for 53%, 37% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2015. Four licensees accounted for 22%, 16%, 14% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2014.&lt;/p&gt;</us-gaap:ConcentrationRiskCreditRisk>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c65_From1Nov2014To31Oct2015_SalesRevenueNetMember_CustomerConcentrationRiskMember_Licensees1Member" decimals="2">0.53</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c66_From1Nov2014To31Oct2015_SalesRevenueNetMember_CustomerConcentrationRiskMember_Licensees2Member" decimals="2">0.37</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c67_From1Nov2014To31Oct2015_SalesRevenueNetMember_CustomerConcentrationRiskMember_Licensees3Member" decimals="2">0.10</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c68_From1Nov2013To31Oct2014_SalesRevenueNetMember_CustomerConcentrationRiskMember_Licensees1Member" decimals="2">0.22</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c69_From1Nov2013To31Oct2014_SalesRevenueNetMember_CustomerConcentrationRiskMember_Licensees2Member" decimals="2">0.16</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c70_From1Nov2013To31Oct2014_SalesRevenueNetMember_CustomerConcentrationRiskMember_Licensees3Member" decimals="2">0.14</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ConcentrationRiskPercentage1 unitRef="pure" contextRef="c71_From1Nov2013To31Oct2014_SalesRevenueNetMember_CustomerConcentrationRiskMember_Licensees4Member" decimals="2">0.10</us-gaap:ConcentrationRiskPercentage1>
  <us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;192&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;104&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot; height=&quot;22&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Money market funds &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2013;&lt;/font&gt; Cash &amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;and cash equivalents&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;467,967&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 4px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;467,967&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Certificates of deposit -&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Short term investments&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2,400,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot; height=&quot;42&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;2,400,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;192&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;justify&quot;&gt;Total financial assets&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;467,967&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;$ 2,400,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;&quot; valign=&quot;bottom&quot; width=&quot;104&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,867,967&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;192&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;90&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;18&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;84&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;18&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;77&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;15&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;104&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;192&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; height=&quot;22&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; height=&quot;22&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;192&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Money market funds &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Cash &amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;and cash equivalents&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;155,964&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;- &lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;155,964&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;192&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Certificates of deposit -&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Short term investments&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,500,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; height=&quot;42&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; height=&quot;42&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;2,500,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;192&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Total financial assets&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;155,964&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;84&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,500,000&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;18&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;77&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;104&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,655,964&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;228&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;28&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;87&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;54&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;51&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;100&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;Patent acquisition obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;$&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,688,187&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,688,187&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;228&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;28&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;25&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;87&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;54&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;51&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;100&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;margin: 0px; line-height: 0.05pt;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;228&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;Patent acquisition obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;28&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;86&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,236,281&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;12&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px; width: 14px;&quot; valign=&quot;bottom&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 2px; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 3,236,281&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

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  <us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;485&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;center&quot;&gt;For the two &lt;br /&gt;years ended &lt;br /&gt;October 31, &lt;br /&gt;2015&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patent acquisition obligation:&lt;/u&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2013&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Initial fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;2,850,511&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;485&quot; height=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Accretion of interest on patent obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp; &lt;/td&gt;
     &lt;td width=&quot;109&quot; height=&quot;8&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;385,770&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2014&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;3,236,281&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Accretion of interest on patent obligation&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp; &lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;451,906&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;485&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2015&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 3px double&quot;&gt;&lt;font size=&quot;3&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;109&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt; &lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;3,688,187&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock>
  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue unitRef="usd" contextRef="c94_AsOf31Oct2013_PatentAcquisitionObligationMember" xs:nil="true"/>
  <us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisObligations unitRef="usd" contextRef="c95_AsOf31Oct2014_PatentAcquisitionObligationMember" decimals="0">2850511</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisObligations>
  <itus:AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense unitRef="usd" contextRef="c96_From1Nov2013To31Oct2014_PatentAcquisitionObligationMember" decimals="0">385770</itus:AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense>
  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue unitRef="usd" contextRef="c95_AsOf31Oct2014_PatentAcquisitionObligationMember" decimals="0">3236281</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
  <itus:AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense unitRef="usd" contextRef="c97_From1Nov2014To31Oct2015_PatentAcquisitionObligationMember" decimals="0">451906</itus:AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense>
  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">3688187</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
  <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;280&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;78&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;78&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;For the Year &lt;br /&gt;Ended October 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Weighted average fair value at grant date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$3.09&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$5.75&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Valuation assumptions:&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Expected life ( years) &lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;5.75&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;5.80&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;117.8%&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;115.3%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;2.01%&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;1.82%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;280&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Expected dividend yield&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;0&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;78&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;0&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c6_From1Nov2014To31Oct2015" decimals="2">3.09</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c7_From1Nov2013To31Oct2014" decimals="2">5.75</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="c6_From1Nov2014To31Oct2015">P5Y9M</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="c7_From1Nov2013To31Oct2014">P5Y292D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="3">1.178</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="3">1.153</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="4">0.0201</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="4">0.0182</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="2">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="2">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <invest:InvestmentTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px;&quot;&gt;&lt;br /&gt;3. &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font style=&quot;text-decoration: underline;&quot;&gt;INVESTMENTS&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Short-term Investments &lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;At October 31, 2015 and October 31, 2014, we had of certificates of deposit totaling $2,400,000 and $2,500,000, respectively. &amp;nbsp;Terms of the certificates of deposit generally range from greater than three months to nine months.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Investment in Videocon &lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Our investment in Videocon was classified as an &quot;available-for-sale security&quot; and reported at fair value, with unrealized gains and losses excluded from operations and reported as component of accumulated other comprehensive income (loss) in shareholders&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt; equity. &amp;nbsp;The original cost basis of $16,200,000 was determined using the specific identification method. &amp;nbsp;The fair value of the Videocon GDRs is based on the price on the Luxembourg Stock Exchange, which price is based on the underlying price of Videocon&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s equity shares which are traded on stock exchanges in India with prices quoted in rupees. &amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;ASC 320 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Investments-Debt and Equity Securities&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASC 320&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) and SEC guidance on other than temporary impairments of certain investments in equity securities requires an evaluation to determine if the decline in fair value of an investment is either temporary or other than temporary. &amp;nbsp;Unless evidence exists to support a realizable value equal to or greater than the carrying cost of the investment, an other than temporary impairment should be recorded. &amp;nbsp;At each reporting period we assessed our investment in Videocon to determine if a decline that is other than temporary has occurred. &amp;nbsp;In evaluating our investment in Videocon during fiscal year 2014, we determined that based on both the duration and the continuing magnitude of the market price decline compared to the carrying cost, a write-down of the investment of approximately $63,000 should be recorded and a new cost basis of approximately $4,135,000 should be established. &amp;nbsp;On August 29, 2014, we exchanged the Videocon GDRs for 800,000 shares of our common stock, see Note 1 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Business and Funding &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Description of Business &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Unwinding of Business Relationship and Interest with Videocon&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;. &amp;nbsp;On a cumulative basis, we have recorded other than temporary impairments in our investment in Videocon GDRs of approximately $12,065,000. &amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The fair value of the Videocon GDRs on August 29, 2014, the date of disposition, was follows:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;356&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;15&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Investment in &lt;br /&gt;Videocon&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;356&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Fair Value as of October 31, 2013&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp; &amp;nbsp;4,197,341&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;356&quot; height=&quot;17&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Other than temporary impairment&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; height=&quot;17&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; height=&quot;17&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(62,825)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;356&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Fair value of Videocon GDRs on date of disposition&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;nbsp;&lt;/font&gt;$&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;4,134,516&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;</invest:InvestmentTextBlock>
  <us-gaap:CertificatesOfDepositAtCarryingValue unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">2400000</us-gaap:CertificatesOfDepositAtCarryingValue>
  <us-gaap:CertificatesOfDepositAtCarryingValue unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">2500000</us-gaap:CertificatesOfDepositAtCarryingValue>
  <us-gaap:AvailableForSaleEquitySecuritiesAmortizedCostBasis unitRef="usd" contextRef="c98_AsOf30Nov2007_InvestmentInVideoconMember" decimals="0">16200000</us-gaap:AvailableForSaleEquitySecuritiesAmortizedCostBasis>
  <us-gaap:EquityMethodInvestmentOtherThanTemporaryImpairment unitRef="usd" contextRef="c99_From1Nov2013To29Aug2014_InvestmentInVideoconMember" decimals="0">63000</us-gaap:EquityMethodInvestmentOtherThanTemporaryImpairment>
  <us-gaap:ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset unitRef="usd" contextRef="c100_AsOf29Aug2014_InvestmentInVideoconMember" decimals="0">4135000</us-gaap:ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset>
  <itus:SharesExchangedForGDR unitRef="shares" contextRef="c99_From1Nov2013To29Aug2014_InvestmentInVideoconMember" decimals="INF">800000</itus:SharesExchangedForGDR>
  <us-gaap:OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld unitRef="usd" contextRef="c100_AsOf29Aug2014_InvestmentInVideoconMember" decimals="0">12065000</us-gaap:OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld>
  <us-gaap:ScheduleOfFairValueOfSeparateAccountsByMajorCategoryOfInvestmentTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;356&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;15&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Investment in &lt;br /&gt;Videocon&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;356&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Fair Value as of October 31, 2013&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp; &amp;nbsp;4,197,341&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;356&quot; height=&quot;17&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Other than temporary impairment&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; height=&quot;17&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; height=&quot;17&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(62,825)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;356&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Fair value of Videocon GDRs on date of disposition&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;15&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;nbsp;&lt;/font&gt;$&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;4,134,516&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfFairValueOfSeparateAccountsByMajorCategoryOfInvestmentTextBlock>
  <us-gaap:AvailableForSaleSecuritiesEquitySecuritiesNoncurrent unitRef="usd" contextRef="c101_AsOf31Oct2013_InvestmentInVideoconMember" decimals="0">4197341</us-gaap:AvailableForSaleSecuritiesEquitySecuritiesNoncurrent>
  <us-gaap:ImpairmentOfInvestments unitRef="usd" contextRef="c102_From1Nov2013To29Aug2014_InvestmentInVideoconMember" decimals="0">62825</us-gaap:ImpairmentOfInvestments>
  <us-gaap:ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset unitRef="usd" contextRef="c103_AsOf29Aug2014_InvestmentInVideoconMember" decimals="0">4134516</us-gaap:ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px;&quot;&gt;&lt;br /&gt;4. &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font style=&quot;text-decoration: underline;&quot;&gt;ACCOUNTS PAYABLE AND ACCRUED EXPENSES&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Accounts payable and accrued liabilities consist of the following as of:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;307&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;5&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;October 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accounts payable&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;374,703&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;540,179&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot; height=&quot;16&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Payroll and related expenses&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot; height=&quot;16&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot; height=&quot;16&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;372,753&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accrued litigation expense, consulting and other&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;professional fees&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;320,493&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot; height=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accrued other&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot; height=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;6,062&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot; height=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;16,001&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;font style=&quot;color: #000000; font-family: &apos;times new roman&apos;; font-size: 14.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: none !important; float: none; background-color: #cceeff;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;380,765&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;1,249,426&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;307&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;5&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;October 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot; align=&quot;right&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accounts payable&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;374,703&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;540,179&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot; height=&quot;16&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Payroll and related expenses&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot; height=&quot;16&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot; height=&quot;16&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;372,753&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accrued litigation expense, consulting and other&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;professional fees&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;320,493&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot; height=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accrued other&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot; height=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;6,062&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot; height=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;16,001&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;307&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;font style=&quot;color: #000000; font-family: &apos;times new roman&apos;; font-size: 14.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: none !important; float: none; background-color: #cceeff;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;380,765&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; align=&quot;right&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;1,249,426&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
  <us-gaap:AccountsPayableCurrent unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">374703</us-gaap:AccountsPayableCurrent>
  <us-gaap:AccountsPayableCurrent unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">540179</us-gaap:AccountsPayableCurrent>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent unitRef="usd" contextRef="c0_AsOf31Oct2015" xs:nil="true"/>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">372753</us-gaap:EmployeeRelatedLiabilitiesCurrent>
  <us-gaap:AccruedProfessionalFeesCurrent unitRef="usd" contextRef="c0_AsOf31Oct2015" xs:nil="true"/>
  <us-gaap:AccruedProfessionalFeesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">320493</us-gaap:AccruedProfessionalFeesCurrent>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">6062</us-gaap:OtherAccruedLiabilitiesCurrent>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">16001</us-gaap:OtherAccruedLiabilitiesCurrent>
  <us-gaap:DebtDisclosureTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot;&gt;&lt;br /&gt;5. &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;u&gt;CONVERTIBLE DEBENTURES&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:16px&quot;&gt;&lt;u&gt;Convertible Debenture due January 2015&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In January 2013, the Company received aggregate gross proceeds of $1,765,000 from the issuance of 8% convertible debentures due January 25, 2015 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Convertible Debenture due January 2015&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), of which $250,000 was received from our current President, Chief Executive Officer and director, and two other directors of the Company.&amp;nbsp;The debentures&amp;nbsp;paid interest quarterly and&amp;nbsp;were convertible into shares of our common stock at a conversion price of $3.75 per share on or before January 25, 2015.&amp;nbsp;The embedded conversion feature&amp;nbsp;had certain weighted average anti-dilution protection provisions which would be triggered if the Company issues its common stock, or certain common stock equivalents, (as defined) at a price below $3.75 per share.&amp;nbsp; The Company had the option to pay any interest on the debentures in common stock based on the average of the closing prices of&amp;nbsp; our common stock for the 10 trading days immediately preceding the interest payment date.&amp;nbsp;The Company also had the option to pay any interest on the debentures with additional debentures.&amp;nbsp; The Company&amp;nbsp;had the right to&amp;nbsp;prepay the debentures at any time without penalty upon 30 days prior notice but only if the sales price of the common stock is at least $7.50 for 20 trading days in any 30-day trading period ending no more than 15 days before the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s prepayment notice.&amp;nbsp; In conjunction with the issuance of the debentures, the Company issued warrants (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Convertible Debenture Warrant&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) to purchase 235,310 shares of its common stock.&amp;nbsp; Each warrant grants the holder the right to purchase one share of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock at the purchase price of $7.50 per share on or before January 25, 2016.&amp;nbsp;The Convertible Debenture Warrant may be exercised on a cashless basis only if there is not an effective registration statement covering such shares.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company determined, based upon authoritative guidance, that the conversion feature embedded within the Convertible Debenture due January 2015 should be valued separately and bifurcated from the host instrument and accounted for as a free-standing derivative liability and that the Convertible Debenture Warrant should also be valued and accounted for separately as an equity instrument.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company determined the fair value of each of the three elements included within the Convertible Debenture due January 2015.&amp;nbsp; The debenture portion (without the conversion feature) bearing interest at 8% was determined to be a debt instrument with a fair value of $1,490,000.&amp;nbsp; The embedded conversion feature was determined to be a derivative liability with a fair value of $1,180,000.&amp;nbsp; The Convertible Debenture Warrant was determined to be an equity instrument with a fair value of $370,000.&amp;nbsp; The Company determined the fair value of each of these instruments based upon the assumptions and methodologies as discussed below.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Since the Convertible Debenture Warrant was determined to be an equity instrument, the Company first computed the relative fair value of the Convertible Debenture due January 2015 (including the value of its conversion feature) with a fair value of $2,670,000 and the Convertible Debenture Warrant with a fair value of $370,000.&amp;nbsp;&amp;nbsp; Accordingly, the relative fair value of the Convertible Debenture Warrant and the Convertible Debenture due January 2015 (including the value of its conversion feature) was determined to be $214,819 and $1,550,181, respectively.&amp;nbsp; Then, from the relative fair value of the Convertible Debenture due January 2015, the Company deducted in full the fair value of the embedded conversion feature of $1,180,000.&amp;nbsp;&amp;nbsp; The discount of $1,394,819 applied to the face value of the Convertible Debenture due January 2015 consists of the sum of the relative fair value of the Convertible Debenture Warrant of $214,819 and the full value of the bifurcated conversion option derivative liability of $1,180,000.&amp;nbsp; The Convertible Debenture due January 2015 was recorded at a net value of $370,181, representing its face value of $1,765,000, less aggregate discounts for the derivative liability and warrant of $1,394,819, as summarized in the table below.&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;256&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;8&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;87&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;6&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;6&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Face value of Convertible Debenture due January 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,765,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px&quot;&gt;Fair value of embedded conversion feature&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,180,000&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px&quot;&gt;Relative fair value of Convertible Debenture Warrant&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;214,819&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px&quot;&gt;Discount&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,394,819&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;(1,394,819)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Proceeds attributable to the Convertible Debenture due January 2015&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;370,181&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Accordingly, the Company accounted for the full amount of the discount as an offset to the Convertible Debenture due January 2015, amortizable under the effective interest method over the term of the debenture. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due January 2015 using a Monte Carlo simulation, with the observable assumptions as provided in the table below.&amp;nbsp;The significant unobservable inputs used in the fair value measurement of the reporting entity&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&amp;nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;363&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;13&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;83&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;97&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;January 25,&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;5.25&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Conversion price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;3.75&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock premium for liquidity&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;57%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;2.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;110%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;0.3%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Trials&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;100,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;1,180,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company calculated the fair value of the Convertible Debenture Warrant issued on January 25, 2013 using the Black-Scholes option pricing model with the following assumptions:&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;363&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;13&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;76&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;January 25,&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;5.25&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Exercise price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;7.50&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock premium for liquidity&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;38%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;3.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Warrant exercise trigger price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;41%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;95%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;0.4%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Number of warrants&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;5,882,745&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;370,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company determined the fair value of the Convertible Debenture due January 2015 by preparing an analysis of discounted cash flows, using a discount rate of 18.6%, which the Company deemed appropriate given the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s current risk scenarios.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In connection with the Convertible Debenture due January 2015, the Company provided compensation to the placement agent consisting of a cash fee of $41,400 and a warrant for the purchase of 11,041 shares of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Placement Agent Warrant&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;).&amp;nbsp; The terms of the Placement Agent Warrant are identical to the terms of the Convertible Debenture Warrant, and using Black-Scholes, upon issuance, was determined to have a fair value of $17,360.&amp;nbsp;Assumptions for the valuation of the Placement Agent Warrant were identical to those provided above for the Convertible Debenture Warrant.&amp;nbsp; In addition, issuance costs included legal fees of approximately $25,000.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The sum of the issuance costs was $83,760, and this cost was allocated as provided below:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;169&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;177&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;19&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;67&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Attributable to:&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Accounting Treatment&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Amount&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;The embedded conversion feature (derivative)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Expensed as incurred&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;55,999&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;The 8% Convertible Debenture Warrant&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Charged to additional paid-in capital&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;10,194&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;top&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;The 8% Convertible Debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;top&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;17,567&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;83,760&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; In connection with the issuance of the Convertible Debenture due January 2015, on April 24, 2013, the Company prepared and filed a registration statement registering for resale the shares of its common stock which may be issued upon the conversion of the debenture consistent with the terms and conditions of the registration rights agreement the Company entered into with the holders of the registrable shares listed above. The registration statement was declared effective by the SEC on June 19, 2013.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company has agreed to maintain the effectiveness of the registration statement through the earlier of three years from the date of the issuance of the Convertible Debenture due January 2015 or until Rule 144 of the Securities Act is available to the holders to allow them to sell all of their registrable securities thereunder.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;The derivative liability related to the embedded conversion feature was revalued at each reporting period as well as on the date of all conversions, as discussed, below.&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;As of October 31, 2013, the Company determined the fair value of the derivative liability to be $540,000, and accordingly, during the year ended October 31, 2013, the Company recorded a gain on the change in the fair value of the derivative liability of approximately $475,000. &amp;nbsp;&amp;nbsp;&amp;nbsp;As of October 31, 2014, the Company determined the fair value of the derivative liability to be $-0-, as the full value of the Convertible Debenture due January 2015 was converted and/or repaid in full during the year ended October 31, 2014 and accordingly, during the year ended October 31, 2014, the Company recorded a loss on the change in the fair value of the derivative of approximately $1,131,000. &amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;As of October 31, 2013, the Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due January 2015 using a Monte Carlo simulation, with the observable assumptions as provided in the table below. &amp;nbsp;The significant unobservable inputs used in the fair value measurement of the reporting entity&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. &amp;nbsp;Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&amp;nbsp; Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;380&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;13&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;67&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;80&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;October 31,&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$ &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;4.875&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Conversion price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$ &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;3.75&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock premium for liquidity&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;42%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;1.25&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;115%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;0.3%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Trials&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;100,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$ &amp;nbsp;540,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;The fair value of the derivative liability associated with the conversions and repayments of the Convertible Debenture due January 2015 was approximately $1,671,000 immediately prior to the conversions and repayments.&lt;/font&gt;&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;As of April 30, 2014, the Convertible Debenture due January 2015 was extinguished in full.&amp;nbsp;&amp;nbsp;However, the Company needed to determine the fair value of the derivative liability for the embedded conversion feature immediately prior to the conversion, in order to determine the change in the fair value of the derivative for the period.&amp;nbsp;The Company determined to measure the derivative immediately prior to the conversion at its intrinsic value, since this method most fairly measured the value of the derivative liability.&amp;nbsp;The intrinsic value computation is provided below.&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;426&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;6&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;83&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;April 30,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;2014&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Stock price used for valuation&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;8.50&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;left&quot;&gt;266.68 shares issued per $1,000 face value&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;1,456,797&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;The amortization of debt discount related to the Convertible Debenture due January 2015 was approximately $-0- and $233,000, for the years ended October 31, 2015 and 2014, respectively.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;During the year ended October 31, 2013, holders of $325,000 and $5,878 of principal and interest, respectively, of the Convertible Debenture due January 2015, converted their holdings into an aggregate of 86,671 and 805 shares of Common Stock.&amp;nbsp; During the year ended October 31, 2014, holders of $1,240,000 and $9,000 of principal and interest, respectively, of the Convertible Debenture due January 2015, converted their holdings into an aggregate of 330,683 and 1,185 shares of common stock and holders of $200,000 of principal of the Convertible Debenture due January 2015 consented to prepayment (without conversion) of obligations to them under the instrument&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s prepayment provisions. During the year ended October 31, 2014, in connection with these conversions and prepayments, the Company recorded losses on extinguishment of debt in the amount of $482,915.&amp;nbsp; These losses represent the excess of the fair value of Common Stock on the date of conversion over the net book value of the debt on the date of conversion.&amp;nbsp; Since the conversion feature on the Convertible Debenture due January 2015 was determined to be a derivative liability, the net book value includes both the value of the debt, net of discount, and the portion of the derivative liability related to its conversion feature. &amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;The loss on extinguishment of debt was calculated as follows:&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;372&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;9&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;79&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Year Ended&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;October 31,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;2014&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Face value of debt converted&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;1,440,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Less: discount&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(658,232)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Plus: fair value of derivative liability&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;1,670,704&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Net book value of debt converted&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;2,452,472&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Fair value of common stock issued&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;2,935,387&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Loss on extinguishment of debt&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;(482,915)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Convertible Debenture due November 2016&lt;/u&gt; &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In November 2013, the Company received aggregate gross proceeds of $3,500,000 from the issuance of 6% convertible debentures due November 11, 2016 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Convertible Debenture due November 2016&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;).&amp;nbsp;The debentures paid interest annually and were convertible into shares of our common stock at a conversion price of $4.73 per share on or before November 11, 2016.&amp;nbsp; The embedded conversion feature had certain weighted average anti-dilution protection provisions which would be triggered if the Company issues its common stock, or certain common stock equivalents, (as defined) at a price below $3.55 per share.&amp;nbsp; The Company had the option to pay any interest on the debentures in common stock based on 90% of the volume weighted average closing sales price of our common stock for the 30 trading days immediately preceding the interest payment date. &amp;nbsp;In conjunction with the issuance of the debentures, the Company issued warrants (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Convertible Debenture Warrant&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) to purchase 369,979 shares of its common stock.&amp;nbsp; Each warrant granted the holder the right to purchase one share of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock at an initial fixed purchase price of $9.46 per share (see discussion below of amendment to warrant exercise price) on or before November 11, 2016.&amp;nbsp; The Convertible Debenture Warrant may be exercised on a cashless basis only if there is not an effective registration statement covering such shares.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company determined, based upon authoritative guidance, that the conversion feature embedded within the Convertible Debenture due November 2016 should be valued separately and bifurcated from the host instrument and accounted for as a free-standing derivative liability and that the Convertible Debenture Warrant should also be valued and accounted for separately as an equity instrument.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company determined the fair value of each of the three elements included within the Convertible Debenture due November 2016.&amp;nbsp;The debenture portion (without the conversion feature) bearing interest at 6% was determined to be a debt instrument with a fair value of $2,710,000.&amp;nbsp; The embedded conversion feature was determined to be a derivative liability with a fair value of $1,570,000.&amp;nbsp;The Convertible Debenture Warrant was determined to be an equity instrument with a fair value of $740,000.&amp;nbsp; The Company determined the fair value of each of these instruments based upon the assumptions and methodologies as discussed below.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Since the Convertible Debenture Warrant was determined to be an equity instrument, the Company first computed the relative fair value of the Convertible Debenture due November 2016 (including the value of its conversion feature) with a fair value of $4,280,000 and the Convertible Debenture Warrant with a fair value of $740,000.&amp;nbsp;&amp;nbsp; Accordingly, the relative fair value of the Convertible Debenture Warrant and the Convertible Debenture due November 2016 (including the value of its conversion feature) was determined to be $515,936 and $2,984,064, respectively.&amp;nbsp; Then, from the relative fair value of the Convertible Debenture due November 2016, the Company deducted in full the fair value of the embedded conversion feature of $1,570,000.&amp;nbsp;&amp;nbsp;The discount of $2,085,936 applied to the face value of the Convertible Debenture due November 2016 consists of the sum of the relative fair value of the Convertible Debenture Warrant of $515,936 and the full value of the bifurcated conversion option derivative liability of $1,570,000.&amp;nbsp; The Convertible Debenture due November 2016 was recorded at a net value of $1,414,064, representing its face value of $3,500,000, less aggregate discounts for the derivative liability and warrant of $2,085,936, as summarized in the table below.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;351&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;83&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;8&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;101&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Face value of Convertible Debenture due November 2016&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px&quot; align=&quot;right&quot;&gt;3,500,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Fair value of embedded conversion feature&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;1,570,000&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Relative fair value of Convertible Debenture Warrant&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;515,936&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Discount&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;2,085,936&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;(2,085,936)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Proceeds attributable to the Convertible Debenture due November 2016&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;92&quot; colspan=&quot;2&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px&quot; align=&quot;right&quot;&gt;1,414,064&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Accordingly, the Company accounted for the full amount of the discount as an offset to the Convertible Debenture due November 2016, amortizable under the effective interest method over the term of the debenture.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due November 2016 using a Monte Carlo simulation, with the observable assumptions as provided in the table below.&amp;nbsp;The significant unobservable inputs used in the fair value measurement of the reporting entity&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&amp;nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;286&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;384&quot; colspan=&quot;3&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;97&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;November 11,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;5.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Conversion price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;4.725&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Discount for lack of marketability&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;35.5%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;3.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;102.8%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;0.62%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Trials&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;100,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;1,570,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;The Company calculated the fair value of the Convertible Debenture Warrant issued on November 11, 2013 using a Black Scholes Model, with the observable assumptions as provided in the table below. The significant unobservable inputs used in the fair value measurement of the reporting entity&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s warrant value are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&amp;nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement:&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;286&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;97&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;November 11,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;5.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Exercise price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;9.45&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Discount for lack of marketability&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;22%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;3.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;102.8%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;0.6%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Number of warrants&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;369,979&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;740,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company determined the fair value of the Convertible Debenture due November 2016 by preparing an analysis of discounted cash flows, using a discount rate of 16.0%, which the Company deemed appropriate given the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s current risk scenarios. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:60px&quot;&gt;&amp;nbsp;In connection with the issuance of the Convertible Debenture due November 2016, the Company incurred legal costs which were allocated as provided below:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;164&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;9&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;131&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;9&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;57&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;Attributable to:&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;Accounting Treatment&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;69&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;Amount&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;The embedded conversion feature (derivative)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Expensed as incurred&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;8,593&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;The 8% Convertible Debenture Warrant&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Charged to additional paid-in capital&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;2,824&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;top&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;The 8% Convertible Debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;top&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;7,739&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;19,156&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;In connection with the issuance of the Convertible Debenture due November 2016, on February 7, 2014, the Company prepared and filed a registration statement registering for resale the shares of its common stock which may be issued upon the conversion of the debenture and exercise of the warrant consistent with the terms and conditions of the debenture agreement the Company entered into with the holders of the registrable shares listed above.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;The Company has agreed to maintain the effectiveness of the registration statement through the earlier of three years from the date of the issuance of the Convertible Debenture due November 2016 or until Rule 144 of the Securities Act is available to the holders to allow them to sell all of their registrable securities thereunder.&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;On September 9, 2014, holders of $3,500,000 and approximately $173,000 of principal and interest, respectively, of the Convertible Debenture due November 2016, converted their holdings into an aggregate of 739,958 shares of common stock the (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Conversion Common Stock&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;).&amp;nbsp;&amp;nbsp; In addition, the Company exchanged and reissued the warrant for the purchase of 369,979 shares of common stock, and upon the reissuance, lowered the exercise price to $7.75 per share.&amp;nbsp;&amp;nbsp; There was no change to the term of the warrant.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Immediately after the conversion, the holders exchanged 639,158 shares of the Conversion Common Stock into 3,500 shares of Series A Convertible Preferred Stock.&amp;nbsp;Shortly thereafter, the Company retired and cancelled the 639,158 shares of common stock received in the exchange.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:42px&quot; align=&quot;justify&quot;&gt;In connection with this conversion, the Company recorded a loss on conversion/exchange of approximately $2,216,000, as summarized below. This loss represents the excess of the fair value of the common stock issued, net of the shares of common stock exchanged for the issuance of 3,500 shares of Series A Convertible Preferred Stock, plus the fair value of the Series A Convertible Preferred Stock, on the date of the conversion, over the net book value of the debt on the date of conversion. Since the conversion feature on the Convertible Debenture due November 2016 was determined to be a derivative liability, the net book value includes the value of the debt, net of debt discount and deferred issuance costs, plus accrued interest and the derivative liability related to the conversion feature (after being marked to market) on the conversion date, and the change in the fair value of the warrant on the date of the conversion.&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt; Because the conversion rate of the Series A Convertible Preferred Stock of $&lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;4.73&lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt; per share was less than the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s closing stock price on the date of this transaction, the Company determined that the Series A Convertible Preferred Stock contained a &lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;beneficial&lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt; conversion feature. The &lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;beneficial&lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt; conversion feature was recorded in additional paid-in-capital as a result of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s accumulated deficit&lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;. &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The loss on extinguishment of debt was determined as follows:&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;444&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;105&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;116&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;Securities extinguished:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;top&quot; width=&quot;116&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;Face value of convertible debenture converted&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;3,500,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Less: debt discount&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;(1,684,801)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Less: deferred issuance costs&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;(7,739)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot; height=&quot;4&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Plus: accrued interest&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot; height=&quot;4&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot; height=&quot;4&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;173,833&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Plus: fair value of derivative liability&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;1,032,241&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Plus: fair value of warrant exchanged in connection with the conversion&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;805,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Net book value of converted debenture, accrued interest, derivative &amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;liability and warrant exchanged&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;3,818,534&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;Securities issued in conversion/exchange:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;Fair value of 100,800 shares of common stock issued, net (739,958&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;shares of Conversion Common Stock issued, less 639,158 shares&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;exchanged for 3,500 shares of Series A Convertible Preferred Stock)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;617,400&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;Fair value of 3,500 shares of Series A Convertible Preferred Stock (based&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;on a stated value per share of $1,000 and a conversion rate of $4.73)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;4,532,241&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;Fair value of warrant issued September 9, 2014&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;885,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 24px; margin: 0px; padding-right: 2px;&quot;&gt;Subtotal of securities issued in conversion/exchange&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;6,034,641&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;(Loss) on conversion/exchange&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;(2,216,107)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;On September 9, 2014, the Convertible Debenture due November 2016 was extinguished in full.&amp;nbsp;&amp;nbsp;The Company needed to determine the fair value of the derivative liability for the embedded conversion feature immediately prior to the conversion, in order to determine the change in the fair value of the derivative for the period.&amp;nbsp;The Company determined to measure the derivative immediately prior to the conversion at its intrinsic value, since this method most fairly measured the value of the derivative liability.&amp;nbsp;The intrinsic value computation is provided below.&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;265&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;17&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;101&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;119&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;On September 9,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;2014&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Stock price used for valuation&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;6.125&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;211.4 shares issued per $1,000 of face value&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px; TEXT-INDENT:-12px&quot;&gt;Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;4,532,241&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Less the face value of the convertible debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;(3,500,000)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Intrinsic value of the derivative conversion feature&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;&amp;nbsp;1,032,241&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The derivative liability related to the embedded conversion feature was revalued at each reporting period as well as on the date of all conversions.&amp;nbsp;The value of the derivative liability associated with the conversion of the Convertible Debenture due November 2016 during the year ended October 31, 2014 was approximately $1,032,000. As of October 31, 2014, the Company determined the fair value of the derivative liability to be $-0-, as the full value of the Convertible Debenture due November 2016 was converted in full during the year ended October 31, 2014. &amp;nbsp;During the year ended October 31, 2014, the Company recorded gains on the change in fair value of the derivative liability of approximately $538,000.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due November 2016 using a Monte Carlo simulation. The significant unobservable inputs used in the fair value measurement of the reporting entity&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. &amp;nbsp;Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&amp;nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The amortization of debt discount related to the Convertible Debenture due November 2016 for the years ended October 31, 2015 and 2014 was approximately $-0- and $401,000, respectively.&lt;/p&gt;&lt;br/&gt;</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:ProceedsFromConvertibleDebt unitRef="usd" contextRef="c104_From1Jan2013To31Jan2013_ConvertibleDebentureDueJanuary2015Member" decimals="0">1765000</us-gaap:ProceedsFromConvertibleDebt>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage unitRef="pure" contextRef="c105_AsOf31Jan2013_ConvertibleDebentureDueJanuary2015Member" decimals="2">0.08</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <us-gaap:ProceedsFromConvertibleDebt unitRef="usd" contextRef="c106_From1Jan2013To31Jan2013_ConvertibleDebentureDueJanuary2015Member_ManagementMember" decimals="0">250000</us-gaap:ProceedsFromConvertibleDebt>
  <us-gaap:DebtInstrumentConvertibleConversionPrice1 unitRef="usdPershares" contextRef="c107_AsOf25Jan2015_ConvertibleDebentureDueJanuary2015Member" decimals="2">3.75</us-gaap:DebtInstrumentConvertibleConversionPrice1>
  <us-gaap:DebtInstrumentConvertibleStockPriceTrigger unitRef="usdPershares" contextRef="c104_From1Jan2013To31Jan2013_ConvertibleDebentureDueJanuary2015Member" decimals="2">3.75</us-gaap:DebtInstrumentConvertibleStockPriceTrigger>
  <us-gaap:DebtInstrumentConvertibleThresholdTradingDays unitRef="pure" contextRef="c104_From1Jan2013To31Jan2013_ConvertibleDebentureDueJanuary2015Member" decimals="0">10</us-gaap:DebtInstrumentConvertibleThresholdTradingDays>
  <itus:DebtInstrumentPrepaymentNoticePeriod contextRef="c104_From1Jan2013To31Jan2013_ConvertibleDebentureDueJanuary2015Member">P30D</itus:DebtInstrumentPrepaymentNoticePeriod>
  <us-gaap:DebtInstrumentConvertibleStockPriceTrigger unitRef="usdPershares" contextRef="c108_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="2">7.50</us-gaap:DebtInstrumentConvertibleStockPriceTrigger>
  <itus:DebtInstrumentPrepaymentThresholdTradingDays unitRef="pure" contextRef="c108_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">20</itus:DebtInstrumentPrepaymentThresholdTradingDays>
  <itus:DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice unitRef="pure" contextRef="c108_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">30</itus:DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice>
  <itus:DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">15</itus:DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice>
  <us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights unitRef="shares" contextRef="c109_AsOf31Oct2015_ConvertibleDebentureWarrantMember_ConvertibleDebentureDueJanuary2015Member" decimals="INF">235310</us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights>
  <us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight unitRef="shares" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="INF">1</us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight>
  <us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 unitRef="usdPershares" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="2">7.50</us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage unitRef="pure" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="2">0.08</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <us-gaap:ConvertibleDebtFairValueDisclosures unitRef="usd" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">1490000</us-gaap:ConvertibleDebtFairValueDisclosures>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c111_AsOf31Oct2015_ConvertibleDebenturesEmbeddedConversionFeatureMember_ConvertibleDebentureDueJanuary2015Member" decimals="0">1180000</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:WarrantsNotSettleableInCashFairValueDisclosure unitRef="usd" contextRef="c111_AsOf31Oct2015_ConvertibleDebenturesEmbeddedConversionFeatureMember_ConvertibleDebentureDueJanuary2015Member" decimals="0">370000</us-gaap:WarrantsNotSettleableInCashFairValueDisclosure>
  <us-gaap:ConvertibleDebtFairValueDisclosures unitRef="usd" contextRef="c112_AsOf31Oct2015_ConvertibleDebentureWithoutConversionFeaturesMember_ConvertibleDebentureDueJanuary2015Member" decimals="0">2670000</us-gaap:ConvertibleDebtFairValueDisclosures>
  <us-gaap:WarrantsNotSettleableInCashFairValueDisclosure unitRef="usd" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">370000</us-gaap:WarrantsNotSettleableInCashFairValueDisclosure>
  <itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure unitRef="usd" contextRef="c111_AsOf31Oct2015_ConvertibleDebenturesEmbeddedConversionFeatureMember_ConvertibleDebentureDueJanuary2015Member" decimals="0">214819</itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure>
  <itus:ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue unitRef="usd" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">1550181</itus:ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue>
  <us-gaap:DebtInstrumentUnamortizedDiscount unitRef="usd" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">-1394819</us-gaap:DebtInstrumentUnamortizedDiscount>
  <itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure unitRef="usd" contextRef="c109_AsOf31Oct2015_ConvertibleDebentureWarrantMember_ConvertibleDebentureDueJanuary2015Member" decimals="0">214819</itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">1180000</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:ConvertibleDebt unitRef="usd" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">370181</us-gaap:ConvertibleDebt>
  <us-gaap:DebtInstrumentFaceAmount unitRef="usd" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">1765000</us-gaap:DebtInstrumentFaceAmount>
  <itus:DerivativeLiabilityAndWarrant unitRef="usd" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">1394819</itus:DerivativeLiabilityAndWarrant>
  <us-gaap:FairValueInputsDiscountRate unitRef="pure" contextRef="c108_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="3">0.186</us-gaap:FairValueInputsDiscountRate>
  <itus:CashFeeCompensationPlacementAgent unitRef="usd" contextRef="c108_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">41400</itus:CashFeeCompensationPlacementAgent>
  <us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights unitRef="shares" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="INF">11041</us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights>
  <itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure unitRef="usd" contextRef="c113_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member_PlacementAgentWarrantMember" decimals="0">17360</itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure>
  <us-gaap:LegalFees unitRef="usd" contextRef="c108_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">25000</us-gaap:LegalFees>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c108_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">83760</us-gaap:DebtIssuanceCosts>
  <us-gaap:DerivativeLiabilitiesCurrent unitRef="usd" contextRef="c114_AsOf31Oct2013_ConvertibleDebentureDueJanuary2015Member" decimals="0">540000</us-gaap:DerivativeLiabilitiesCurrent>
  <us-gaap:DerivativeGainLossOnDerivativeNet unitRef="usd" contextRef="c115_From1Nov2012To31Oct2013_ConvertibleDebentureDueJanuary2015Member" decimals="0">475000</us-gaap:DerivativeGainLossOnDerivativeNet>
  <us-gaap:DerivativeLiabilitiesCurrent unitRef="usd" contextRef="c116_AsOf31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">0</us-gaap:DerivativeLiabilitiesCurrent>
  <us-gaap:DerivativeGainLossOnDerivativeNet unitRef="usd" contextRef="c117_From1Nov2013To31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">1131000</us-gaap:DerivativeGainLossOnDerivativeNet>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c118_AsOf31Dec2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">1671000</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:AmortizationOfDebtDiscountPremium unitRef="usd" contextRef="c108_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">0</us-gaap:AmortizationOfDebtDiscountPremium>
  <us-gaap:AmortizationOfDebtDiscountPremium unitRef="usd" contextRef="c117_From1Nov2013To31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">233000</us-gaap:AmortizationOfDebtDiscountPremium>
  <us-gaap:DebtInstrumentFaceAmount unitRef="usd" contextRef="c114_AsOf31Oct2013_ConvertibleDebentureDueJanuary2015Member" decimals="0">325000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:DebtInstrumentIncreaseAccruedInterest unitRef="usd" contextRef="c115_From1Nov2012To31Oct2013_ConvertibleDebentureDueJanuary2015Member" decimals="0">5878</us-gaap:DebtInstrumentIncreaseAccruedInterest>
  <itus:DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal unitRef="shares" contextRef="c115_From1Nov2012To31Oct2013_ConvertibleDebentureDueJanuary2015Member" decimals="INF">86671</itus:DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal>
  <itus:DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest unitRef="shares" contextRef="c115_From1Nov2012To31Oct2013_ConvertibleDebentureDueJanuary2015Member" decimals="INF">805</itus:DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest>
  <us-gaap:DebtInstrumentFaceAmount unitRef="usd" contextRef="c119_AsOf31Oct2014_ConvertibleDebenturesEmbeddedConversionFeatureMember_ConvertibleDebentureDueJanuary2015Member" decimals="0">1240000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:DebtInstrumentIncreaseAccruedInterest unitRef="usd" contextRef="c117_From1Nov2013To31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">9000</us-gaap:DebtInstrumentIncreaseAccruedInterest>
  <itus:DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal unitRef="shares" contextRef="c117_From1Nov2013To31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="INF">330683</itus:DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal>
  <itus:DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest unitRef="shares" contextRef="c117_From1Nov2013To31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="INF">1185</itus:DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest>
  <us-gaap:DebtInstrumentFaceAmount unitRef="usd" contextRef="c116_AsOf31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">200000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:GainsLossesOnExtinguishmentOfDebt unitRef="usd" contextRef="c117_From1Nov2013To31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">482915</us-gaap:GainsLossesOnExtinguishmentOfDebt>
  <us-gaap:ProceedsFromConvertibleDebt unitRef="usd" contextRef="c120_From1Nov2013To30Nov2013_ConvertibleDebentureDueNovember2016Member" decimals="0">3500000</us-gaap:ProceedsFromConvertibleDebt>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage unitRef="pure" contextRef="c121_AsOf30Nov2013_ConvertibleDebentureDueNovember2016Member" decimals="2">0.06</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <us-gaap:DebtInstrumentConvertibleConversionPrice1 unitRef="usdPershares" contextRef="c122_AsOf30Nov2013_ConvertibleDebenturesEmbeddedConversionFeatureMember_ConvertibleDebentureDueNovember2016Member" decimals="2">4.73</us-gaap:DebtInstrumentConvertibleConversionPrice1>
  <itus:DebtConversionConvertedInstrumentAdditionalSharesIssued unitRef="shares" contextRef="c120_From1Nov2013To30Nov2013_ConvertibleDebentureDueNovember2016Member" decimals="INF">3.55</itus:DebtConversionConvertedInstrumentAdditionalSharesIssued>
  <itus:DebtInstrumentPrepaymentNoticePeriod contextRef="c120_From1Nov2013To30Nov2013_ConvertibleDebentureDueNovember2016Member">P30D</itus:DebtInstrumentPrepaymentNoticePeriod>
  <us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights unitRef="shares" contextRef="c121_AsOf30Nov2013_ConvertibleDebentureDueNovember2016Member" decimals="INF">369979</us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights>
  <us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight unitRef="shares" contextRef="c121_AsOf30Nov2013_ConvertibleDebentureDueNovember2016Member" decimals="INF">1</us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight>
  <us-gaap:DebtInstrumentConvertibleConversionPrice1 unitRef="usdPershares" contextRef="c121_AsOf30Nov2013_ConvertibleDebentureDueNovember2016Member" decimals="2">9.46</us-gaap:DebtInstrumentConvertibleConversionPrice1>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage unitRef="pure" contextRef="c123_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="2">0.06</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <us-gaap:ConvertibleDebtFairValueDisclosures unitRef="usd" contextRef="c124_AsOf31Oct2013_ConvertibleDebentureWithoutConversionFeaturesMember_ConvertibleDebentureDueNovember2016Member" decimals="0">2710000</us-gaap:ConvertibleDebtFairValueDisclosures>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c124_AsOf31Oct2013_ConvertibleDebentureWithoutConversionFeaturesMember_ConvertibleDebentureDueNovember2016Member" decimals="0">1570000</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure unitRef="usd" contextRef="c124_AsOf31Oct2013_ConvertibleDebentureWithoutConversionFeaturesMember_ConvertibleDebentureDueNovember2016Member" decimals="0">740000</itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure>
  <us-gaap:ConvertibleDebtFairValueDisclosures unitRef="usd" contextRef="c125_AsOf31Oct2013_ConvertibleDebentureDueNovember2016Member" decimals="0">4280000</us-gaap:ConvertibleDebtFairValueDisclosures>
  <us-gaap:WarrantsNotSettleableInCashFairValueDisclosure unitRef="usd" contextRef="c125_AsOf31Oct2013_ConvertibleDebentureDueNovember2016Member" decimals="0">740000</us-gaap:WarrantsNotSettleableInCashFairValueDisclosure>
  <itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure unitRef="usd" contextRef="c125_AsOf31Oct2013_ConvertibleDebentureDueNovember2016Member" decimals="0">515936</itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure>
  <itus:ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue unitRef="usd" contextRef="c125_AsOf31Oct2013_ConvertibleDebentureDueNovember2016Member" decimals="0">2984064</itus:ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c125_AsOf31Oct2013_ConvertibleDebentureDueNovember2016Member" decimals="0">1570000</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:DebtInstrumentUnamortizedDiscount unitRef="usd" contextRef="c126_AsOf31Oct2015_ConvertibleDebenturesEmbeddedConversionFeatureMember_ConvertibleDebentureDueNovember2016Member" decimals="0">-2085936</us-gaap:DebtInstrumentUnamortizedDiscount>
  <us-gaap:ConvertibleDebt unitRef="usd" contextRef="c123_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">1414064</us-gaap:ConvertibleDebt>
  <us-gaap:DebtInstrumentUnamortizedDiscount unitRef="usd" contextRef="c123_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">-2085936</us-gaap:DebtInstrumentUnamortizedDiscount>
  <us-gaap:FairValueInputsDiscountRate unitRef="pure" contextRef="c127_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="3">0.160</us-gaap:FairValueInputsDiscountRate>
  <us-gaap:ConvertibleDebt unitRef="usd" contextRef="c128_AsOf30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="0">3500000</us-gaap:ConvertibleDebt>
  <us-gaap:DebtInstrumentIncreaseAccruedInterest unitRef="usd" contextRef="c129_From30Sep2014To30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="0">173000</us-gaap:DebtInstrumentIncreaseAccruedInterest>
  <us-gaap:DebtConversionConvertedInstrumentSharesIssued1 unitRef="shares" contextRef="c129_From30Sep2014To30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="INF">739958</us-gaap:DebtConversionConvertedInstrumentSharesIssued1>
  <us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights unitRef="shares" contextRef="c128_AsOf30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="INF">369979</us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights>
  <us-gaap:DebtInstrumentConvertibleConversionPrice1 unitRef="usdPershares" contextRef="c128_AsOf30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="2">7.75</us-gaap:DebtInstrumentConvertibleConversionPrice1>
  <us-gaap:ConversionOfStockSharesConverted1 unitRef="shares" contextRef="c129_From30Sep2014To30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="INF">639158</us-gaap:ConversionOfStockSharesConverted1>
  <us-gaap:ConversionOfStockSharesIssued1 unitRef="shares" contextRef="c129_From30Sep2014To30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="INF">3500</us-gaap:ConversionOfStockSharesIssued1>
  <itus:RetirementAndCancellationOfShares unitRef="shares" contextRef="c129_From30Sep2014To30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="INF">639158</itus:RetirementAndCancellationOfShares>
  <itus:GainLossOnSharesConversion unitRef="usd" contextRef="c129_From30Sep2014To30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="0">2216000</itus:GainLossOnSharesConversion>
  <itus:EquityInstrumentConvertibleConversionPrice unitRef="usdPershares" contextRef="c128_AsOf30Sep2014_ConvertibleDebentureDueNovember2016Member" decimals="2">4.73</itus:EquityInstrumentConvertibleConversionPrice>
  <us-gaap:DerivativeLiabilitiesCurrent unitRef="usd" contextRef="c130_AsOf31Oct2014_ConvertibleDebentureDueNovember2016Member" decimals="0">1032000</us-gaap:DerivativeLiabilitiesCurrent>
  <us-gaap:DerivativeFairValueOfDerivativeNet unitRef="usd" contextRef="c130_AsOf31Oct2014_ConvertibleDebentureDueNovember2016Member" decimals="0">0</us-gaap:DerivativeFairValueOfDerivativeNet>
  <us-gaap:DerivativeGainLossOnDerivativeNet unitRef="usd" contextRef="c131_From1Nov2013To31Oct2014_ConvertibleDebentureDueNovember2016Member" decimals="0">538000</us-gaap:DerivativeGainLossOnDerivativeNet>
  <us-gaap:AmortizationOfDebtDiscountPremium unitRef="usd" contextRef="c127_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">0</us-gaap:AmortizationOfDebtDiscountPremium>
  <us-gaap:AmortizationOfDebtDiscountPremium unitRef="usd" contextRef="c131_From1Nov2013To31Oct2014_ConvertibleDebentureDueNovember2016Member" decimals="0">401000</us-gaap:AmortizationOfDebtDiscountPremium>
  <us-gaap:ConvertibleDebtTableTextBlock contextRef="c132_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;256&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;8&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;87&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;6&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;6&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Face value of Convertible Debenture due January 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,765,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px&quot;&gt;Fair value of embedded conversion feature&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,180,000&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px&quot;&gt;Relative fair value of Convertible Debenture Warrant&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;214,819&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px&quot;&gt;Discount&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,394,819&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;(1,394,819)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;256&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Proceeds attributable to the Convertible Debenture due January 2015&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;8&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;370,181&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ConvertibleDebtTableTextBlock>
  <itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure unitRef="usd" contextRef="c110_AsOf31Oct2015_ConvertibleDebentureDueJanuary2015Member" decimals="0">214819</itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure>
  <us-gaap:LongTermDebt unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">370181</us-gaap:LongTermDebt>
  <us-gaap:ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock contextRef="c133_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member_ConvertibleDebenturesEmbeddedConversionFeatureMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;363&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;13&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;83&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;97&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;January 25,&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;5.25&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Conversion price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;3.75&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock premium for liquidity&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;57%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;2.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;110%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;0.3%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Trials&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;100,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;1,180,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;380&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;13&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;67&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;80&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;October 31,&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$ &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;4.875&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Conversion price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$ &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;3.75&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock premium for liquidity&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;42%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;1.25&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;115%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;0.3%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Trials&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;right&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;100,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$ &amp;nbsp;540,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;380&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock>
  <us-gaap:SharePrice unitRef="usdPershares" contextRef="c134_AsOf25Jan2013_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="2">5.25</us-gaap:SharePrice>
  <us-gaap:DebtInstrumentConvertibleConversionPrice1 unitRef="usdPershares" contextRef="c134_AsOf25Jan2013_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="2">3.75</us-gaap:DebtInstrumentConvertibleConversionPrice1>
  <itus:StockPremiumForLiquidity unitRef="pure" contextRef="c135_From25Jan2013To25Jan2013_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="2">0.57</itus:StockPremiumForLiquidity>
  <us-gaap:FairValueAssumptionsExpectedTerm contextRef="c135_From25Jan2013To25Jan2013_ConvertibleDebenturesEmbeddedConversionFeatureMember">P2Y</us-gaap:FairValueAssumptionsExpectedTerm>
  <us-gaap:FairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c135_From25Jan2013To25Jan2013_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="2">1.10</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:FairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c135_From25Jan2013To25Jan2013_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="3">0.003</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
  <itus:Trials unitRef="shares" contextRef="c135_From25Jan2013To25Jan2013_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="INF">100000</itus:Trials>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c134_AsOf25Jan2013_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="0">1180000</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:SharePrice unitRef="usdPershares" contextRef="c136_AsOf31Oct2014_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="3">4.875</us-gaap:SharePrice>
  <us-gaap:DebtInstrumentConvertibleConversionPrice1 unitRef="usdPershares" contextRef="c136_AsOf31Oct2014_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="2">3.75</us-gaap:DebtInstrumentConvertibleConversionPrice1>
  <itus:StockPremiumForLiquidity unitRef="pure" contextRef="c137_From1Nov2013To31Oct2014_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="2">0.42</itus:StockPremiumForLiquidity>
  <us-gaap:FairValueAssumptionsExpectedTerm contextRef="c137_From1Nov2013To31Oct2014_ConvertibleDebenturesEmbeddedConversionFeatureMember">P1Y3M</us-gaap:FairValueAssumptionsExpectedTerm>
  <us-gaap:FairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c137_From1Nov2013To31Oct2014_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="2">1.15</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:FairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c137_From1Nov2013To31Oct2014_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="3">0.003</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
  <itus:Trials unitRef="shares" contextRef="c137_From1Nov2013To31Oct2014_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="INF">100000</itus:Trials>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c136_AsOf31Oct2014_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="0">540000</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock contextRef="c138_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member_ConvertibleDebentureWarrantMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;363&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;13&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;76&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;January 25,&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;5.25&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Exercise price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;7.50&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Stock premium for liquidity&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;38%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;3.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Warrant exercise trigger price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;41%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;95%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;0.4%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Number of warrants&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;5,882,745&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;363&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;13&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;76&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;370,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock>
  <us-gaap:SharePrice unitRef="usdPershares" contextRef="c139_AsOf25Jan2013_ConvertibleDebentureWarrantMember" decimals="2">5.25</us-gaap:SharePrice>
  <us-gaap:FairValueAssumptionsExercisePrice unitRef="usdPershares" contextRef="c139_AsOf25Jan2013_ConvertibleDebentureWarrantMember" decimals="2">7.50</us-gaap:FairValueAssumptionsExercisePrice>
  <itus:StockPremiumForLiquidity unitRef="pure" contextRef="c140_From25Jan2013To25Jan2013_ConvertibleDebentureWarrantMember" decimals="2">0.38</itus:StockPremiumForLiquidity>
  <us-gaap:FairValueAssumptionsExpectedTerm contextRef="c140_From25Jan2013To25Jan2013_ConvertibleDebentureWarrantMember">P3Y</us-gaap:FairValueAssumptionsExpectedTerm>
  <itus:WarrantExerciseTriggerPrice unitRef="pure" contextRef="c140_From25Jan2013To25Jan2013_ConvertibleDebentureWarrantMember" decimals="2">0.41</itus:WarrantExerciseTriggerPrice>
  <us-gaap:FairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c140_From25Jan2013To25Jan2013_ConvertibleDebentureWarrantMember" decimals="2">0.95</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:FairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c140_From25Jan2013To25Jan2013_ConvertibleDebentureWarrantMember" decimals="3">0.004</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ClassOfWarrantOrRightOutstanding unitRef="shares" contextRef="c139_AsOf25Jan2013_ConvertibleDebentureWarrantMember" decimals="INF">5882745</us-gaap:ClassOfWarrantOrRightOutstanding>
  <us-gaap:WarrantsNotSettleableInCashFairValueDisclosure unitRef="usd" contextRef="c139_AsOf25Jan2013_ConvertibleDebentureWarrantMember" decimals="0">370000</us-gaap:WarrantsNotSettleableInCashFairValueDisclosure>
  <itus:ScheduleOfDebtIssuanceCostTableTextBlock contextRef="c132_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;169&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;14&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;177&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;12&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;19&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;67&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Attributable to:&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Accounting Treatment&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot; align=&quot;center&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Amount&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;The embedded conversion feature (derivative)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Expensed as incurred&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;55,999&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;The 8% Convertible Debenture Warrant&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Charged to additional paid-in capital&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;10,194&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;top&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;The 8% Convertible Debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;top&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;17,567&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;169&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;14&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;177&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;12&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;19&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;67&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;83,760&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</itus:ScheduleOfDebtIssuanceCostTableTextBlock>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c141_From1Nov2013To31Oct2014_ExpensedAsIncurredMember" decimals="0">55999</us-gaap:DebtIssuanceCosts>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c142_From1Nov2013To31Oct2014_ChargedToAdditionalPaidInCapitalMember" decimals="0">10194</us-gaap:DebtIssuanceCosts>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c143_From1Nov2013To31Oct2014_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember" decimals="0">17567</us-gaap:DebtIssuanceCosts>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">83760</us-gaap:DebtIssuanceCosts>
  <us-gaap:ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValueTableTextBlock contextRef="c132_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;426&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;6&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;83&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;April 30,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;2014&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Stock price used for valuation&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;8.50&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;left&quot;&gt;266.68 shares issued per $1,000 face value&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;1,456,797&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;426&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;6&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValueTableTextBlock>
  <us-gaap:SharePrice unitRef="usdPershares" contextRef="c144_AsOf30Apr2014_ConvertibleDebentureMember" decimals="2">8.50</us-gaap:SharePrice>
  <us-gaap:DebtConversionConvertedInstrumentType contextRef="c145_From30Apr2014To30Apr2014_ConvertibleDebentureMember">266.68 shares issued per $1,000 face value</us-gaap:DebtConversionConvertedInstrumentType>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c144_AsOf30Apr2014_ConvertibleDebentureMember" decimals="0">1456797</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:DebtConversionConvertedInstrumentSharesIssued1 unitRef="shares" contextRef="c145_From30Apr2014To30Apr2014_ConvertibleDebentureMember" decimals="INF">266.68</us-gaap:DebtConversionConvertedInstrumentSharesIssued1>
  <us-gaap:DebtInstrumentCarryingAmount unitRef="usd" contextRef="c144_AsOf30Apr2014_ConvertibleDebentureMember" decimals="0">1150000</us-gaap:DebtInstrumentCarryingAmount>
  <us-gaap:ScheduleOfExtinguishmentOfDebtTextBlock contextRef="c132_From1Nov2014To31Oct2015_ConvertibleDebentureDueJanuary2015Member">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;372&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;9&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;79&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Year Ended&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;October 31,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;2014&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Face value of debt converted&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;1,440,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Less: discount&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(658,232)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Plus: fair value of derivative liability&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;1,670,704&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Net book value of debt converted&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;2,452,472&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Fair value of common stock issued&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;2,935,387&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;372&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;Loss on extinguishment of debt&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;79&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;(482,915)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfExtinguishmentOfDebtTextBlock>
  <us-gaap:DebtInstrumentFaceAmount unitRef="usd" contextRef="c146_AsOf31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">1440000</us-gaap:DebtInstrumentFaceAmount>
  <itus:ConvertibleDebtDiscount unitRef="usd" contextRef="c147_From1Nov2013To31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">-658232</itus:ConvertibleDebtDiscount>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c146_AsOf31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">1670704</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:DebtInstrumentCarryingAmount unitRef="usd" contextRef="c146_AsOf31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">2452472</us-gaap:DebtInstrumentCarryingAmount>
  <us-gaap:StockIssued1 unitRef="usd" contextRef="c147_From1Nov2013To31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">2935387</us-gaap:StockIssued1>
  <us-gaap:GainsLossesOnExtinguishmentOfDebt unitRef="usd" contextRef="c147_From1Nov2013To31Oct2014_ConvertibleDebentureDueJanuary2015Member" decimals="0">-482915</us-gaap:GainsLossesOnExtinguishmentOfDebt>
  <us-gaap:ConvertibleDebtTableTextBlock contextRef="c148_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;351&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;83&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;8&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;101&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Face value of Convertible Debenture due November 2016&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px&quot; align=&quot;right&quot;&gt;3,500,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Fair value of embedded conversion feature&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;1,570,000&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Relative fair value of Convertible Debenture Warrant&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;515,936&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Discount&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;83&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;2,085,936&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;(2,085,936)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;351&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Proceeds attributable to the Convertible Debenture due November 2016&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;92&quot; colspan=&quot;2&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px&quot; align=&quot;right&quot;&gt;1,414,064&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ConvertibleDebtTableTextBlock>
  <us-gaap:DebtInstrumentFaceAmount unitRef="usd" contextRef="c149_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">3500000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c149_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">1570000</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure unitRef="usd" contextRef="c149_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">515936</itus:WarrantsNotSettleableInCashRelativeFairValueDisclosure>
  <us-gaap:DebtInstrumentUnamortizedDiscount unitRef="usd" contextRef="c149_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">2085936</us-gaap:DebtInstrumentUnamortizedDiscount>
  <us-gaap:ConvertibleDebt unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">1414064</us-gaap:ConvertibleDebt>
  <us-gaap:ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock contextRef="c150_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member_ConvertibleDebenturesEmbeddedConversionFeatureMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;286&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;384&quot; colspan=&quot;3&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px; LINE-HEIGHT:0.05pt&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;97&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;November 11,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;5.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Conversion price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;4.725&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Discount for lack of marketability&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;35.5%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;3.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;102.8%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;0.62%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Trials&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;100,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;1,570,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock>
  <us-gaap:SharePrice unitRef="usdPershares" contextRef="c151_AsOf11Nov2013_ConvertibleDebentureDueNovember2016Member_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="2">5.00</us-gaap:SharePrice>
  <us-gaap:DebtInstrumentConvertibleConversionPrice1 unitRef="usdPershares" contextRef="c151_AsOf11Nov2013_ConvertibleDebentureDueNovember2016Member_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="3">4.725</us-gaap:DebtInstrumentConvertibleConversionPrice1>
  <itus:DiscountForLackOfMarketability unitRef="pure" contextRef="c152_From11Nov2013To11Nov2013_ConvertibleDebentureDueNovember2016Member_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="3">0.355</itus:DiscountForLackOfMarketability>
  <us-gaap:FairValueAssumptionsExpectedTerm contextRef="c152_From11Nov2013To11Nov2013_ConvertibleDebentureDueNovember2016Member_ConvertibleDebenturesEmbeddedConversionFeatureMember">P3Y</us-gaap:FairValueAssumptionsExpectedTerm>
  <us-gaap:FairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c152_From11Nov2013To11Nov2013_ConvertibleDebentureDueNovember2016Member_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="3">1.028</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:FairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c152_From11Nov2013To11Nov2013_ConvertibleDebentureDueNovember2016Member_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="4">0.0062</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
  <itus:Trials unitRef="shares" contextRef="c152_From11Nov2013To11Nov2013_ConvertibleDebentureDueNovember2016Member_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="INF">100000</itus:Trials>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c151_AsOf11Nov2013_ConvertibleDebentureDueNovember2016Member_ConvertibleDebenturesEmbeddedConversionFeatureMember" decimals="0">1570000</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock contextRef="c153_From1Nov2014To31Oct2015_ConvertibleDebentureWarrantMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;286&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;97&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;As of&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;November 11,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;2013&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Stock price on valuation date&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;5.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Exercise price&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;9.45&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Discount for lack of marketability&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;22%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Term (years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;3.00&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Expected volatility&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;102.8%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Weighted average risk-free interest rate&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;0.6%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Number of warrants&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;369,979&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;286&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Aggregate fair value&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;740,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock>
  <us-gaap:SharePrice unitRef="usdPershares" contextRef="c154_AsOf11Nov2013_A8ConvertibleDebentureWarrantMember" decimals="2">5.00</us-gaap:SharePrice>
  <us-gaap:FairValueAssumptionsExercisePrice unitRef="usdPershares" contextRef="c154_AsOf11Nov2013_A8ConvertibleDebentureWarrantMember" decimals="2">9.45</us-gaap:FairValueAssumptionsExercisePrice>
  <itus:DiscountForLackOfMarketability unitRef="pure" contextRef="c155_From11Nov2013To11Nov2013_A8ConvertibleDebentureWarrantMember" decimals="2">0.22</itus:DiscountForLackOfMarketability>
  <us-gaap:FairValueAssumptionsExpectedTerm contextRef="c155_From11Nov2013To11Nov2013_A8ConvertibleDebentureWarrantMember">P3Y</us-gaap:FairValueAssumptionsExpectedTerm>
  <us-gaap:FairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c155_From11Nov2013To11Nov2013_A8ConvertibleDebentureWarrantMember" decimals="3">1.028</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:FairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c155_From11Nov2013To11Nov2013_A8ConvertibleDebentureWarrantMember" decimals="3">0.006</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ClassOfWarrantOrRightOutstanding unitRef="shares" contextRef="c154_AsOf11Nov2013_A8ConvertibleDebentureWarrantMember" decimals="INF">369979</us-gaap:ClassOfWarrantOrRightOutstanding>
  <us-gaap:WarrantsNotSettleableInCashFairValueDisclosure unitRef="usd" contextRef="c154_AsOf11Nov2013_A8ConvertibleDebentureWarrantMember" decimals="0">740000</us-gaap:WarrantsNotSettleableInCashFairValueDisclosure>
  <itus:ScheduleOfDebtIssuanceCostTableTextBlock contextRef="c153_From1Nov2014To31Oct2015_ConvertibleDebentureWarrantMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;164&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;9&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;131&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;9&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;57&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;Attributable to:&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;Accounting Treatment&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;69&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;Amount&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;The embedded conversion feature (derivative)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Expensed as incurred&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;8,593&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;The 8% Convertible Debenture Warrant&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Charged to additional paid-in capital&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;2,824&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;top&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;The 8% Convertible Debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;top&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;7,739&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;164&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;131&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;9&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;11&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;57&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;19,156&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</itus:ScheduleOfDebtIssuanceCostTableTextBlock>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c156_From1Nov2014To31Oct2015_ExpensedAsIncurredMember" decimals="0">8593</us-gaap:DebtIssuanceCosts>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c157_From1Nov2014To31Oct2015_ChargedToAdditionalPaidInCapitalMember" decimals="0">2824</us-gaap:DebtIssuanceCosts>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c158_From1Nov2014To31Oct2015_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember" decimals="0">7739</us-gaap:DebtIssuanceCosts>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">19156</us-gaap:DebtIssuanceCosts>
  <us-gaap:ScheduleOfExtinguishmentOfDebtTextBlock contextRef="c159_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;444&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;11&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;105&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;116&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;Securities extinguished:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;top&quot; width=&quot;116&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;Face value of convertible debenture converted&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;3,500,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Less: debt discount&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;(1,684,801)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Less: deferred issuance costs&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;(7,739)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot; height=&quot;4&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Plus: accrued interest&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot; height=&quot;4&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot; height=&quot;4&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;173,833&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Plus: fair value of derivative liability&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;1,032,241&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Plus: fair value of warrant exchanged in connection with the conversion&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;805,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;Net book value of converted debenture, accrued interest, derivative &amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;liability and warrant exchanged&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;3,818,534&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;Securities issued in conversion/exchange:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;Fair value of 100,800 shares of common stock issued, net (739,958&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;shares of Conversion Common Stock issued, less 639,158 shares&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;exchanged for 3,500 shares of Series A Convertible Preferred Stock)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;617,400&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;Fair value of 3,500 shares of Series A Convertible Preferred Stock (based&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;on a stated value per share of $1,000 and a conversion rate of $4.73)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;4,532,241&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;Fair value of warrant issued September 9, 2014&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;885,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 24px; margin: 0px; padding-right: 2px;&quot;&gt;Subtotal of securities issued in conversion/exchange&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 6px;&quot; align=&quot;right&quot;&gt;6,034,641&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;444&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;(Loss) on conversion/exchange&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;11&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 2px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; background-color: #cceeff; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;105&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;(2,216,107)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfExtinguishmentOfDebtTextBlock>
  <us-gaap:DebtInstrumentFaceAmount unitRef="usd" contextRef="c160_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member_LongTermDebtMember" decimals="0">3500000</us-gaap:DebtInstrumentFaceAmount>
  <itus:ConvertibleDebtDiscount unitRef="usd" contextRef="c161_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member_LongTermDebtMember" decimals="0">-1684801</itus:ConvertibleDebtDiscount>
  <us-gaap:DebtIssuanceCosts unitRef="usd" contextRef="c161_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member_LongTermDebtMember" decimals="0">-7739</us-gaap:DebtIssuanceCosts>
  <us-gaap:DebtInstrumentIncreaseAccruedInterest unitRef="usd" contextRef="c161_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member_LongTermDebtMember" decimals="0">173833</us-gaap:DebtInstrumentIncreaseAccruedInterest>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c160_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member_LongTermDebtMember" decimals="0">1032241</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:WarrantsNotSettleableInCashFairValueDisclosure unitRef="usd" contextRef="c160_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member_LongTermDebtMember" decimals="0">805000</us-gaap:WarrantsNotSettleableInCashFairValueDisclosure>
  <itus:NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange unitRef="usd" contextRef="c149_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">3818534</itus:NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange>
  <itus:StockIssuedFairValue unitRef="usd" contextRef="c162_AsOf31Oct2015_ConvertibleDebentureMember_ConvertibleDebentureDueNovember2016Member" decimals="0">617400</itus:StockIssuedFairValue>
  <itus:FairValueConvertiblePreferredStock unitRef="usd" contextRef="c163_From1Nov2014To31Oct2015_ConvertibleDebentureMember_ConvertibleDebentureDueNovember2016Member" decimals="0">4532241</itus:FairValueConvertiblePreferredStock>
  <itus:WarrantIssuedFairValue unitRef="usd" contextRef="c163_From1Nov2014To31Oct2015_ConvertibleDebentureMember_ConvertibleDebentureDueNovember2016Member" decimals="0">885000</itus:WarrantIssuedFairValue>
  <itus:SecuritiesIssuedInValue unitRef="usd" contextRef="c148_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">6034641</itus:SecuritiesIssuedInValue>
  <itus:GainLossOnSharesConversion unitRef="usd" contextRef="c148_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="0">-2216107</itus:GainLossOnSharesConversion>
  <us-gaap:CommonStockSharesIssued unitRef="shares" contextRef="c149_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="INF">100800</us-gaap:CommonStockSharesIssued>
  <us-gaap:ConversionOfStockNewIssuance contextRef="c148_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member">739,958</us-gaap:ConversionOfStockNewIssuance>
  <itus:SecuritiesIssuedInConversionExchangeShares unitRef="shares" contextRef="c148_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member" decimals="INF">639158</itus:SecuritiesIssuedInConversionExchangeShares>
  <us-gaap:PreferredStockSharesIssued unitRef="shares" contextRef="c164_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member_SeriesAPreferredStockMember" decimals="INF">3500</us-gaap:PreferredStockSharesIssued>
  <itus:ConvertiblePreferredStockSharesConvertedInitialStatedValue unitRef="usdPershares" contextRef="c164_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member_SeriesAPreferredStockMember" decimals="0">1000</itus:ConvertiblePreferredStockSharesConvertedInitialStatedValue>
  <itus:ConvertiblePreferredStockInitialConversionPrice unitRef="usdPershares" contextRef="c164_AsOf31Oct2015_ConvertibleDebentureDueNovember2016Member_SeriesAPreferredStockMember" decimals="2">4.73</itus:ConvertiblePreferredStockInitialConversionPrice>
  <us-gaap:ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValueTableTextBlock contextRef="c165_From1Nov2014To31Oct2015_ConvertibleDebentureDueNovember2016Member">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;265&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;17&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;101&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;119&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;On September 9,&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;center&quot;&gt;2014&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Stock price used for valuation&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;6.125&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;center&quot;&gt;211.4 shares issued per $1,000 of face value&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px; TEXT-INDENT:-12px&quot;&gt;Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;4,532,241&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Less the face value of the convertible debenture&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot; align=&quot;right&quot;&gt;(3,500,000)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;265&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;Intrinsic value of the derivative conversion feature&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;17&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px&quot;&gt;&amp;nbsp;$&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;101&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px&quot; align=&quot;right&quot;&gt;&amp;nbsp;1,032,241&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValueTableTextBlock>
  <us-gaap:SharePrice unitRef="usdPershares" contextRef="c166_AsOf9Sep2013_A8ConvertibleDebentureMember" decimals="3">6.125</us-gaap:SharePrice>
  <us-gaap:DebtConversionConvertedInstrumentType contextRef="c167_From9Sep2013To9Sep2013_A8ConvertibleDebentureMember">211.4 shares issued per $1,000 of face value</us-gaap:DebtConversionConvertedInstrumentType>
  <us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability unitRef="usd" contextRef="c166_AsOf9Sep2013_A8ConvertibleDebentureMember" decimals="0">4532241</us-gaap:EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability>
  <us-gaap:DebtInstrumentFaceAmount unitRef="usd" contextRef="c166_AsOf9Sep2013_A8ConvertibleDebentureMember" decimals="0">3500000</us-gaap:DebtInstrumentFaceAmount>
  <itus:DerivativeConversionFeatureIntrinsicValue unitRef="usd" contextRef="c167_From9Sep2013To9Sep2013_A8ConvertibleDebentureMember" decimals="0">1032241</itus:DerivativeConversionFeatureIntrinsicValue>
  <us-gaap:DebtConversionConvertedInstrumentSharesIssued1 unitRef="shares" contextRef="c167_From9Sep2013To9Sep2013_A8ConvertibleDebentureMember" decimals="INF">211.4</us-gaap:DebtConversionConvertedInstrumentSharesIssued1>
  <us-gaap:DebtInstrumentCarryingAmount unitRef="usd" contextRef="c166_AsOf9Sep2013_A8ConvertibleDebentureMember" decimals="0">3500000</us-gaap:DebtInstrumentCarryingAmount>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px;&quot;&gt;&lt;br /&gt;6. &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font style=&quot;text-decoration: underline;&quot;&gt;SHAREHOLDERS&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2019;&lt;/font&gt; EQUITY&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Sale of Common Stock&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;On July 15, 2014, the Company, raised $4,000,000 of gross proceeds via a registered direct offering of its common stock to certain investors (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Investors&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Offering&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). The Company sold an aggregate of &lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;640,&lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;000 shares of common stock and warrants to purchase an aggregate of &lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;320,&lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;000 shares of common stock. The purchase price of one share of common stock and a warrant to purchase &amp;frac12; of a share of common stock was $&lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;6&lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;.25. &amp;nbsp;The warrants are exercisable immediately as of the date of issuance at an exercise price of $&lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;10.00 &lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;per share and expire five years from the date of issuance. The exercise price of the warrants is subject to customary adjustment in the case of stock splits, stock dividends, combinations of shares and similar recapitalization transactions. &amp;nbsp;Under certain circumstances, the Company has the right to call for cancellation of warrants for which a notice of exercise has not yet been delivered for consideration equal to $.0&lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;25&lt;/font&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt; per share. &amp;nbsp;The Offering was effected as a takedown off the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s shelf registration statement on Form S-3, which became effective on April 25, 2014, pursuant to a prospectus supplement filed with the SEC.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;&lt;u&gt;Reverse Stock Split&lt;/u&gt;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:rgb(255,255,255)&quot;&gt;On June 26, 2015, we effected a 1-for-25 reverse stock split (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Stock Split&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) of our issued common stock and preferred stock. &amp;nbsp;Each shareholders&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt; percentage ownership and proportional voting power remained unchanged as a result of the Stock Split. &amp;nbsp;All applicable share data, per share amounts and related information in the consolidated financial statements and notes thereto have been adjusted retroactively to give effect to the Stock Split. &amp;nbsp;As a result of the Stock Split, the number of shares of our common stock and preferred stock authorized was also decreased by the same proportion as the outstanding shares.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Common Stock Issuances&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;During the years ended October 31, 2015 and 2014, we issued 11,600 shares and 12,400 shares, respectively, of common stock to consultants for services rendered, pursuant to the 2010 Share Plan. &amp;nbsp;We recorded consulting expense for the years ended October 31, 2015 and 2014 of approximately $46,000 and $85,000, respectively, for shares of common stock issued to consultants. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:-6px&quot;&gt;&lt;u&gt;Stock&amp;nbsp;Option&amp;nbsp;Plans&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;As of October 31, 2015, we have two stock option plans: the 2003 Share Plan and the 2010 Share Plan which were adopted by our Board of Directors on April 21, 2003 and July 14, 2010, respectively.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The 2003 Share Plan provides for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees and consultants. &amp;nbsp;The maximum number of shares of common stock in the 2003 Share Plan was 2,800,000 shares. The 2003 Share Plan was administered by the Stock Option Committee through June 2004, from June 2004 through July 2010, by the Board of Directors, from July 2010 through August 2012, by the Stock Option Committee, from August 2012 through November 2012, by the Executive Committee of the Board of Directors and since November 2012, by the Board of Directors, which determined the option price, term and provisions of each option. &amp;nbsp;The exercise price with respect to all of the options granted under the 2003 Share Plan since its inception was equal to the fair market value of the underlying common stock at the grant date. In accordance with the provisions of the 2003 Share Plan, the plan terminated with respect to the grant of future options on April 21, 2013.&lt;br /&gt;&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot;&gt;Information regarding the 2003 Share Plan for the two years ended October 31, 2015 is as follows:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;269&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;120&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Weighted &lt;br /&gt;Average Exercise &lt;br /&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Aggregate &lt;br /&gt;Intrinsic Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, 2013&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;625,554&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;18.00&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Exercised&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;(17,400)&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;3.63&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Forfeited&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;(114,163)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;19.75&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding &amp;nbsp;at October 31, 2014&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;493,991&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;18.00&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Exercised&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;(4,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;2.58&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Forfeited&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;(123,771)&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;14.71&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding and Exercisable at October 31, 2015&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;366,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;17.86&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;61,665&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of October 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;138&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;143&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;90&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;138&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Range of&lt;br /&gt;Exercise Prices&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Number&lt;br /&gt;Outstanding&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Remaining&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Contractual Life &lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;(in years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Exercise Price&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;138&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$ &amp;nbsp;1.79 - $ &amp;nbsp;9.25&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;73,880&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;1.75&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$ &amp;nbsp;2.91&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;138&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$14.75 - $17.25&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;59,600&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;1.33&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$16.75&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;138&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$18.75 - $23.00&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;192,720&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;1.14&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$21.57&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;138&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$29.25&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;40,000&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;1.80&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$29.25&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The 2010 Share Plan provides for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees and consultants. &amp;nbsp;The maximum number of shares of common stock in the 2010 Share Plan was initially 600,000 shares. On July 6, 2011, the 2010 Share Plan was amended by our Board of Directors to increase the maximum number of shares of common stock in the plan to 1,080,000 shares and on August 29, 2012, the maximum number of shares in the plan was further increased to 1,200,000 shares. &amp;nbsp;On November 8, 2013, the Board of Directors approved an amendment to provide that effective November 8, 2013, the maximum aggregate number of shares available for future issuance will be 800,000 shares and that on the first business day in 2014 and on the first business day of each calendar year thereafter the maximum aggregate number of shares available for future issuance shall be replenished such that 800,000 shares will be available. Accordingly, on November 8, 2013, January 2, 2014 and January 2, 2015, the number of shares in the 2010 Share Plan was increased to 1,956,999 shares, 2,225,399 shares and 2,569,399 shares, respectively. &amp;nbsp;In addition, on November 8, 2013, the 2010 Share Plan was amended to provide that on January 2nd of each year commencing on January 2, 2014, each non-employee director of the Company at that time shall automatically be granted a 10 year stock option to purchase 12,000 shares of common stock (16,000 for the Chairman) that will vest in four equal quarterly installments. The 2010 Share Plan was administered by the Stock Option Committee through August 2012, from August 2012 through November 2012, by the Executive Committee of the Board of Directors and since November 2012, by the Board of Directors, which determines the option price, term and provisions of each option. The exercise price with respect to all of the options granted under the 2010 Share Plan was equal to the fair market value of the underlying common stock at the grant date. &amp;nbsp;As of October 31, 2015, the 2010 Share Plan had 988,995 shares available for future grants.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Information regarding the 2010 Share Plan as of October 31, 2015 is as follows: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;278&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Shares&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;Weighted Average Exercise Price Per Share&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Aggregate Intrinsic Value&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, 2013&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;119,360&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$6.13&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Granted&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;612,400&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$5.75&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Exercised&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(3,200)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;left&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$4.00&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, &amp;nbsp;2014&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;728,560&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$5.75&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:7px; MARGIN:0px&quot;&gt;Granted&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;60,400&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$2.91&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Exercised&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(13,334)&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$2.58&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Forfeited&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(249,355)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$6.24&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, &amp;nbsp;2015&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;526,271&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$3.33&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$ 471,292&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Exercisable at October 31, 2015&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;406,149&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$3.40&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$ 342,572&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table summarizes information about stock options outstanding under the 2010 Share Plan as of October 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;24&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;72&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;65&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Options Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Range of&lt;br /&gt;Exercise&lt;br /&gt;Prices&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Number&lt;br /&gt;Outstanding&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Remaining&lt;br /&gt;Contractual Life&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;(in years)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;72&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Exercise Price&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Number&lt;br /&gt;Exercisable&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Remaining&lt;br /&gt;Contractual Life&lt;br /&gt;(in years)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Exercise Price&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;72&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$2.58 - $9.25&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;526,271&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;6.98&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;72&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$3.33&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;406,149&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;6.57&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$3.40&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;72&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;display: none; font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;.&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In addition to options granted under the 2003 Share Plan and the 2010 Share Plan, in September 2012, the Board of Directors approved the grant of stock options to purchase 1,660,000 shares and, during the year ended October 31, 2013, the Board of Directors approved the grant of stock options to purchase 120,000 shares.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Of the stock options granted in September 2012, nonqualified options to purchase 1,600,000 shares were issued to our new executive team, consisting of 640,000 stock options issued to our new President and Chief Executive Officer, 320,000 stock options issued to our new Senior Vice President of Engineering and 640,000 stock options issued to a new strategic advisor to the Company who was also a Director. &amp;nbsp;These stock options had an exercise price of $5.44 (the average of the high and the low sales price of the common stock on the trading day immediately preceding the approval of such options by the Board of Directors) and have a term of ten years. &amp;nbsp;Half of these stock options vest in 36 equal monthly installments commencing on October 31, 2012, provided that if the grantees are terminated by the Company without cause, an additional 12 months of vesting will be accelerated and such accelerated options will become immediately exercisable. &amp;nbsp;The balance of the stock options will vest in three equal installments upon achievement of a cash milestone, which was satisfied in the fourth quarter of fiscal 2013, and two stock price targets, which were not achieved in fiscal 2013. &amp;nbsp;In November 2013, in light of the cost and expense of revaluing the unvested portion of the performance-based stock options on a quarterly basis for financial reporting purposes, the Board of Directors approved an amendment to the performance-based stock options awarded on September 19, 2012 to the President and Chief Executive Officer, Senior Vice President of Engineering and the strategic advisor. The amendment modifies the option award&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s vesting conditions to provide that the unvested portion of the stock options vest in 23 consecutive monthly installments commencing November 30, 2013. &amp;nbsp;The fair value of these options was recalculated to reflect the change to service based options as of November 8, 2013 and the unrecognized compensation amount was adjusted to reflect the increase in fair value. &amp;nbsp;As of October 31, 2015, the options to purchase 1,600,000 shares were exercisable and had an intrinsic value of $1,832,000, based on our closing share price on October 31, 2015 of $3.72. &amp;nbsp;These stock options otherwise have the same terms and conditions as options granted under the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s 2010 Share Incentive Plan.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The remaining nonqualified stock options granted in September 2012 to purchase 60,000 shares consisted of grants of 30,000 stock options to our Chairman in compensation for his service as interim Chief Executive Officer of the Company and as compensation for his prior service as a director, and 30,000 stock options to a director in compensation for his service in recruiting the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s new management team. &amp;nbsp;These stock options had an exercise price of $5.56 (the average of the high and low sales price on September 21, 2012). &amp;nbsp;The options vest in 3 equal annual installments commencing on September 21, 2012 and have a term of ten years. &amp;nbsp;&amp;nbsp;As of October 31, 2015, these options were exercisable and had an intrinsic value of approximately $34,000&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;, based on our closing share price on October 31, 2015 of $3.72&lt;/font&gt;. &amp;nbsp;These stock options otherwise have the same terms and conditions as options granted under the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s 2010 Share Incentive Plan. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;During the year ended October 31, 2013, nonqualified stock options to purchase 120,000 shares were granted to our outside directors for service rendered to our Company. &amp;nbsp;Of these options, &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;(a) &amp;nbsp;In November 2012, nonqualified stock options to purchase 40,000 shares were issued to one of our directors as additional compensation for service in recruiting the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s new management team. &amp;nbsp;These options have an exercise price of $5.28 (the average of the high and low sales price on date of grant) and vested 13,334 shares upon grant and 13,333 shares in two annual installments commencing November 30, 2013. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;(b) In February 2013, nonqualified stock options to purchase 40,000 shares were issued to the Chairman of the Board. &amp;nbsp;These stock options had an exercise price of $5.88 (the average of the high and low sales price on date of grant) and vest 13,334 shares upon grant and 13,333 shares in two annual installments commencing February 15, 2014. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;(c) In March 2013, nonqualified stock options to purchase an aggregate of 40,000 shares were granted to the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s three outside directors. &amp;nbsp;Each of these stock options had an exercise price of $4.88 (the average of the high and low sales price on date of grant) and vest in four equal quarterly installments commencing March 31, 2013.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;As of October 31, 2015, the options to purchase 120,000 shares were exercisable and had an intrinsic value of approximately $92,000&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;, based on our closing share price on October 31, 2015 of $3.72&lt;/font&gt;. &amp;nbsp;These options otherwise have the same terms and conditions as options granted under the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s 2010 Share Incentive Plan.&amp;nbsp;&amp;nbsp;&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table summarizes information about the above outstanding and exercisable stock options that were not granted under the 2003 Share Plan or the 2010 Share Plan as of October 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;138&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;96&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;143&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;90&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;138&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Range of&lt;br /&gt;Exercise Prices&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Number&lt;br /&gt;Outstanding&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;143&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Remaining&lt;br /&gt;Contractual Life&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;(in years)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Exercise &lt;br /&gt;Price&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;138&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$ 2.58 - $ 5.56&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;1,780,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;143&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;6.76&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$ &amp;nbsp;2.71&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;138&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;143&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;display: none; font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;.&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;On January 28, 2015, the Board of Directors authorized management of the Company to re-price issued and outstanding stock options for all of the officers, directors and employees of the Company, at any time prior to February 16, 2015. &amp;nbsp;On February 5, 2015, management acted to re-price 2,184,125 issued and outstanding stock options (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Re-Priced Options&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) pursuant to the authority granted by the Board of Directors. The new exercise price of the Re-Priced Options is $2.575, the closing sales price of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock on February 5, 2015. &amp;nbsp;All other terms of the previously granted Re-Priced Options remain the same. &amp;nbsp;The Company recorded additional stock-based compensation of approximately $297,000, as of February 5, 2015, related to this re-pricing. &amp;nbsp;This amount was determined to be the incremental value of the fair value of the Re-Priced Options compared to the fair value of the original option immediately before the re-pricing.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Preferred Stock&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In May 1986, our shareholders authorized 200,000 shares of preferred stock with a par value of $100 per share. &amp;nbsp;The shares of preferred stock may be issued in series at the direction of the Board of Directors, and the relative rights, preferences and limitations of such shares will all be determined by the Board of Directors. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Series A Convertible Preferred&amp;nbsp;Stock&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;On September 9, 2014, the Company designated 140 shares of the preferred stock as Series A Convertible Preferred Stock, par value $100 per share, in accordance with the Certificate of Designation of Series A Convertible Preferred Stock filed with the Secretary of State of the State of Delaware on September 9, 2014 (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Series A Convertible Preferred Stock&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;On September 9, 2014, 140 shares of Series A Convertible Preferred Stock were issued in connection with the conversion of the Convertible Debenture due November 2016, as discussed further, in Note 5, &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Convertible Debentures&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; herein.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;i&gt;Ranking&amp;nbsp;&lt;/i&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Series A Convertible Preferred Stock ranks senior to the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock, to all series of any other classes of equity which may be issued and to any indebtedness, unless the Company has obtained the prior written consent of the Series A Convertible Preferred Stock holder.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;i&gt;Optional Conversion&lt;/i&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Holders of the Series A Convertible Preferred Stock may at any time convert their shares of Series A Convertible Preferred Stock into such number of shares of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock in such an amount equal to (a) the stated value (initially $1,000) of the shares of Series A Convertible Preferred Stock being converted (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Stated Value&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), divided by the conversion price (initially $4.73) ( the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Series A Conversion Price&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), multiplied by (b) the number of shares of Series A Preferred Stock being converted. &amp;nbsp;In the event the Series A Convertible Preferred Stock is converted in part, the Company shall deliver a new certificate of like tenor in the amount equal to the remaining balance of the Series A Convertible Preferred Stock after giving effect to such partial conversion.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The holder shall not have the right to convert any portion of the Series A Convertible Preferred Stock if after giving effect to such conversion, the holder, together with any affiliate thereof, would beneficially own in excess of 4.99% of the number of shares of common stock outstanding immediately after giving effect to such conversion.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The embedded conversion option has certain anti-dilution protection provisions which would be triggered if the Company issues its common stock, or certain common stock equivalents, (as defined) at a price below $3.55 per share. &amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;i&gt;Mandatory Conversion&lt;/i&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;At any time after November 11, 2016, if and only if the average of the high and low trading prices of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s common stock for any 10 out of 20 consecutive trading days (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Measurement Period,&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) exceeds the then Series A Conversion Price, as adjusted, the Company may convert any then outstanding shares of Series A Convertible Preferred Stock into shares of common stock (a &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Mandatory Conversion&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), provided, however, that any such Mandatory Conversion shall not require a holder to convert a number of shares of Series A Convertible Preferred Stock into an amount of Common Stock that would exceed 50% of the daily average trading volume of the common stock during the Measurement Period. Following November 11, 2016 and subject to the price and volume limitations set forth above, the Company may require such number of successive Mandatory Conversions as are necessary to convert all then outstanding Series A Convertible Preferred Stock. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;i&gt;Redemption&lt;/i&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;At any time on or after November 11, 2016 (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Redemption Date&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), and upon at least 60 days prior written notice to the Company (a &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Redemption Notice&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), any holder of the Series A Convertible Preferred Stock shall have a one-time right to require the Company to redeem all or some of its shares of Series A Convertible Preferred Stock (a &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Redemption&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), for cash generated from a subsequent sale of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s equity securities. &amp;nbsp;&amp;nbsp;The redemption price shall be equal to the Stated Value for each share of Series A Convertible Preferred Stock (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Redemption Purchase Price&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;Upon receipt of a Redemption Notice, the Company shall complete a sale or sales of its equity securities for the purpose of accumulating net proceeds sufficient to pay the Redemption Purchase Price (it being understood by the holder of the Series A Convertible Preferred Stock that the Company may only redeem shares of Series A Convertible Preferred Stock with the proceeds from the sale of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s equity securities).&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;i&gt;Board and Observer Rights&lt;/i&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Each holder of Series A Convertible Preferred Stock shall have the right, upon 10 days&apos; prior written notice, to designate one representative, reasonably acceptable to the Company, who shall be entitled to attend and observe meetings of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s Board of Directors in a non-voting observer capacity (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Observer&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;).&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;i&gt;Accounting for the Series A Convertible Preferred Stock&lt;/i&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The Company determined that the economic characteristics and risks of the conversion feature and the preferred stock instrument were clearly and closely related as equity instruments and accordingly, the conversion feature would not require separate accounting. &amp;nbsp;&amp;nbsp;In addition, the redemption feature is contingent upon Series A Convertible Preferred Stock not being converted into common stock and upon the holders delivering a redemption notice to the Company. &amp;nbsp;&amp;nbsp;Further, the redemption purchase price may only be paid from the proceeds of a subsequent sale of equity securities. Accordingly, the Series A Convertible Preferred Stock was accounted for as an equity instrument. Further, b&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;ecause the conversion rate of the Series A Convertible Preferred Stock of $&lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;4.73&lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt; per share was less than the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s closing stock price on the date of this transaction, the Company determined that the Series A Convertible Preferred Stock contained a &lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;beneficial&lt;/font&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt; conversion feature. 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  <us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities unitRef="shares" contextRef="c213_From9Sep2014To9Sep2014_SeriesAPreferredStockMember_ConvertiblePreferredStockMember" decimals="INF">140</us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities>
  <itus:ConvertiblePreferredStockSharesConvertedInitialStatedValue unitRef="usdPershares" contextRef="c214_AsOf31Oct2015_SeriesAPreferredStockMember_ConvertiblePreferredStockMember" decimals="0">1000</itus:ConvertiblePreferredStockSharesConvertedInitialStatedValue>
  <itus:ConvertiblePreferredStockInitialConversionPrice unitRef="usdPershares" contextRef="c214_AsOf31Oct2015_SeriesAPreferredStockMember_ConvertiblePreferredStockMember" decimals="2">4.73</itus:ConvertiblePreferredStockInitialConversionPrice>
  <itus:CommonStockSharesOutstandingMaximumOwnershipPercentage unitRef="pure" contextRef="c214_AsOf31Oct2015_SeriesAPreferredStockMember_ConvertiblePreferredStockMember" decimals="4">0.0499</itus:CommonStockSharesOutstandingMaximumOwnershipPercentage>
  <itus:CommonStockAntidilutionThresholdPrice unitRef="usdPershares" contextRef="c214_AsOf31Oct2015_SeriesAPreferredStockMember_ConvertiblePreferredStockMember" decimals="2">3.55</itus:CommonStockAntidilutionThresholdPrice>
  <itus:ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod contextRef="c215_From1Nov2014To31Oct2015_SeriesAPreferredStockMember_ConvertiblePreferredStockMember">the average of the high and low trading prices of the Company&amp;#8217;s common stock for any 10 out of 20 consecutive trading days</itus:ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod>
  <itus:ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage unitRef="pure" contextRef="c215_From1Nov2014To31Oct2015_SeriesAPreferredStockMember_ConvertiblePreferredStockMember" decimals="2">0.50</itus:ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage>
  <itus:ConvertiblePreferredStockRedemptionNoticePeriod contextRef="c215_From1Nov2014To31Oct2015_SeriesAPreferredStockMember_ConvertiblePreferredStockMember">P60D</itus:ConvertiblePreferredStockRedemptionNoticePeriod>
  <itus:ConertiblePreferredStockObserverDesignationNoticePeriod contextRef="c215_From1Nov2014To31Oct2015_SeriesAPreferredStockMember_ConvertiblePreferredStockMember">P10D</itus:ConertiblePreferredStockObserverDesignationNoticePeriod>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;269&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;120&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Weighted &lt;br /&gt;Average Exercise &lt;br /&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid&quot; valign=&quot;bottom&quot;&gt; &lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Aggregate &lt;br /&gt;Intrinsic Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, 2013&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;625,554&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;18.00&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Exercised&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;(17,400)&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;3.63&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Forfeited&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;(114,163)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;19.75&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding &amp;nbsp;at October 31, 2014&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;493,991&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;18.00&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Exercised&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;(4,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&amp;nbsp;2.58&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Forfeited&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;(123,771)&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;14.71&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;269&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding and Exercisable at October 31, 2015&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;366,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;120&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;17.86&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td&gt;&lt;font size=&quot;3&quot; style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td width=&quot;112&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;61,665&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;278&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Shares&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;Weighted Average Exercise Price Per Share&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px&quot; align=&quot;center&quot;&gt;Aggregate Intrinsic Value&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&lt;br /&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, 2013&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;119,360&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$6.13&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Granted&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;612,400&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$5.75&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Exercised&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(3,200)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;left&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$4.00&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, &amp;nbsp;2014&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;728,560&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$5.75&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; PADDING-LEFT:7px; MARGIN:0px&quot;&gt;Granted&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;60,400&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$2.91&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Exercised&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(13,334)&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$2.58&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;Forfeited&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(249,355)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$6.24&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;MARGIN:0px&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, &amp;nbsp;2015&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;526,271&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$3.33&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$ 471,292&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;278&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Exercisable at October 31, 2015&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;406,149&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;132&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;$3.40&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt; &lt;/td&gt;
     &lt;td width=&quot;86&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;nbsp;$ 342,572&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c216_AsOf31Oct2013_P2003SharePlanMember" decimals="INF">625554</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c216_AsOf31Oct2013_P2003SharePlanMember" decimals="2">18.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c217_From1Nov2013To31Oct2014_P2003SharePlanMember" decimals="INF">17400</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c217_From1Nov2013To31Oct2014_P2003SharePlanMember" decimals="2">3.63</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod unitRef="shares" contextRef="c217_From1Nov2013To31Oct2014_P2003SharePlanMember" decimals="INF">114163</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c217_From1Nov2013To31Oct2014_P2003SharePlanMember" decimals="2">19.75</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c218_AsOf31Oct2014_P2003SharePlanMember" decimals="INF">493991</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c218_AsOf31Oct2014_P2003SharePlanMember" decimals="2">18.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c219_From1Nov2014To31Oct2015_P2003SharePlanMember" decimals="INF">4000</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c219_From1Nov2014To31Oct2015_P2003SharePlanMember" decimals="2">2.58</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod unitRef="shares" contextRef="c219_From1Nov2014To31Oct2015_P2003SharePlanMember" decimals="INF">123771</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c219_From1Nov2014To31Oct2015_P2003SharePlanMember" decimals="2">14.71</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber unitRef="shares" contextRef="c220_AsOf31Oct2015_P2003SharePlanMember" decimals="INF">366200</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c220_AsOf31Oct2015_P2003SharePlanMember" decimals="2">17.86</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue unitRef="usd" contextRef="c220_AsOf31Oct2015_P2003SharePlanMember" decimals="0">61665</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c221_AsOf31Oct2013_P2010SharePlanMember" decimals="INF">119360</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c221_AsOf31Oct2013_P2010SharePlanMember" decimals="2">6.13</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c222_From1Nov2013To31Oct2014_P2010SharePlanMember" decimals="INF">612400</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c222_From1Nov2013To31Oct2014_P2010SharePlanMember" decimals="2">5.75</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c222_From1Nov2013To31Oct2014_P2010SharePlanMember" decimals="INF">3200</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c222_From1Nov2013To31Oct2014_P2010SharePlanMember" decimals="2">4.00</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c223_AsOf31Oct2014_P2010SharePlanMember" decimals="INF">728560</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c223_AsOf31Oct2014_P2010SharePlanMember" decimals="2">5.75</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c224_From1Nov2014To31Oct2015_P2010SharePlanMember" decimals="INF">60400</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c224_From1Nov2014To31Oct2015_P2010SharePlanMember" decimals="2">2.91</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c224_From1Nov2014To31Oct2015_P2010SharePlanMember" decimals="INF">13334</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c224_From1Nov2014To31Oct2015_P2010SharePlanMember" decimals="2">2.58</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod unitRef="shares" contextRef="c224_From1Nov2014To31Oct2015_P2010SharePlanMember" decimals="INF">249355</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c224_From1Nov2014To31Oct2015_P2010SharePlanMember" decimals="2">6.24</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c186_AsOf31Oct2015_P2010SharePlanMember" decimals="INF">526271</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c186_AsOf31Oct2015_P2010SharePlanMember" decimals="2">3.33</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue unitRef="usd" contextRef="c186_AsOf31Oct2015_P2010SharePlanMember" decimals="0">471292</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber unitRef="shares" contextRef="c186_AsOf31Oct2015_P2010SharePlanMember" decimals="INF">406149</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c186_AsOf31Oct2015_P2010SharePlanMember" decimals="2">3.40</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 unitRef="usd" contextRef="c186_AsOf31Oct2015_P2010SharePlanMember" decimals="0">342572</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c219_From1Nov2014To31Oct2015_P2003SharePlanMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt;
     &lt;td width=&quot;138&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;96&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;143&quot; valign=&quot;bottom&quot;&gt; &lt;/td&gt;
     &lt;td width=&quot;90&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;138&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Range of&lt;br /&gt;Exercise Prices&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Number&lt;br /&gt;Outstanding&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Remaining&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Contractual Life &lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;(in years)&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Exercise Price&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;138&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$ &amp;nbsp;1.79 - $ &amp;nbsp;9.25&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;73,880&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;1.75&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$ &amp;nbsp;2.91&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;138&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$14.75 - $17.25&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;59,600&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;1.33&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$16.75&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td width=&quot;138&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$18.75 - $23.00&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;192,720&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;1.14&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$21.57&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td width=&quot;138&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$29.25&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;96&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;40,000&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;143&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;1.80&lt;/p&gt;&lt;/td&gt;
     &lt;td width=&quot;90&quot; style=&quot;PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px&quot; align=&quot;center&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;$29.25&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c225_AsOf31Oct2015_RangeOfExercisePrices179To925Member" decimals="INF">73880</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c226_From1Nov2014To31Oct2015_RangeOfExercisePrices179To925Member">P1Y9M</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c225_AsOf31Oct2015_RangeOfExercisePrices179To925Member" decimals="2">2.91</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c227_AsOf31Oct2015_RangeOfExercisePrices1475To1725Member" decimals="INF">59600</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c228_From1Nov2014To31Oct2015_RangeOfExercisePrices1475To1725Member">P1Y120D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c227_AsOf31Oct2015_RangeOfExercisePrices1475To1725Member" decimals="2">16.75</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c229_AsOf31Oct2015_RangeOfExercisePrices1875To2300Member" decimals="INF">192720</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c230_From1Nov2014To31Oct2015_RangeOfExercisePrices1875To2300Member">P1Y51D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c229_AsOf31Oct2015_RangeOfExercisePrices1875To2300Member" decimals="2">21.57</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c231_AsOf31Oct2015_RangeOfExercisePrices2925Member" decimals="INF">40000</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c232_From1Nov2014To31Oct2015_RangeOfExercisePrices2925Member">P1Y292D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c231_AsOf31Oct2015_RangeOfExercisePrices2925Member" decimals="2">29.25</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c224_From1Nov2014To31Oct2015_P2010SharePlanMember">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;24&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;72&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;65&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Options Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Range of&lt;br /&gt;Exercise&lt;br /&gt;Prices&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Number&lt;br /&gt;Outstanding&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Remaining&lt;br /&gt;Contractual Life&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;(in years)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;72&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Exercise Price&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Number&lt;br /&gt;Exercisable&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Remaining&lt;br /&gt;Contractual Life&lt;br /&gt;(in years)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Exercise Price&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;72&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$2.58 - $9.25&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;526,271&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;6.98&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;72&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$3.33&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;406,149&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;6.57&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$3.40&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;72&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;77&quot;&gt;&lt;p style=&quot;display: none; font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;.&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c233_AsOf31Oct2015_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="INF">526271</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c234_From1Nov2014To31Oct2015_P2010SharePlanMember_RangeOfExercisePrices258To925Member">P6Y357D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c233_AsOf31Oct2015_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="2">3.33</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions unitRef="shares" contextRef="c233_AsOf31Oct2015_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="INF">406149</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c234_From1Nov2014To31Oct2015_P2010SharePlanMember_RangeOfExercisePrices258To925Member">P6Y208D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1 unitRef="usdPershares" contextRef="c233_AsOf31Oct2015_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="2">3.40</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c235_From1Nov2014To31Oct2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td width=&quot;138&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;96&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;143&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td width=&quot;90&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;138&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Range of&lt;br /&gt;Exercise Prices&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Number&lt;br /&gt;Outstanding&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;143&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Remaining&lt;br /&gt;Contractual Life&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;(in years)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;Weighted Average&lt;br /&gt;Exercise &lt;br /&gt;Price&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;138&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$ 2.58 - $ 5.56&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;1,780,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;143&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;6.76&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;$ &amp;nbsp;2.71&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;138&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;143&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;top&quot; width=&quot;90&quot;&gt;&lt;p style=&quot;display: none; font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;.&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c236_AsOf31Oct2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To556Member" decimals="INF">1780000</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c237_From1Nov2014To31Oct2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To556Member">P6Y277D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c236_AsOf31Oct2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To556Member" decimals="2">2.71</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px;&quot;&gt;&lt;br /&gt;7. &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font style=&quot;text-decoration: underline;&quot;&gt;COMMITMENTS AND CONTINGENCIES&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patent Acquisition Obligations&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;As of October 31, 2015, we have incurred obligations due no later than November 2017 related to the acquisition of patents, which have a discounted present value of approximately $3,688,000, and which amount will be reduced by royalties paid during the period, if any. &amp;nbsp;The payment due in November 2017 is payable at the option of the Company in cash or common stock. &amp;nbsp;We recorded interest expense of approximately $452,000 and $386,000, respectively, for the &amp;nbsp;years ended October 31, 2015 and 2014, for the accretion of interest on patent acquisition obligations. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Leases&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We lease approximately 3,000 square feet of office space in Los Angeles, California pursuant to a lease that expires March 30, 2016. &amp;nbsp;As of October 31, 2015, our non-cancelable operating lease commitments for the year ending October 31, 2016 was approximately $44,000. &amp;nbsp;Rent expense for the years ended October 31, 2015 and 2014, was approximately $100,000 and $109,000, respectively. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Litigation Matters&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013. For a more detailed description of the settlement with AUO see Note 1, &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Business and Funding - Description of Business - AUO Lawsuit and Settlement&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;.&lt;br /&gt;&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Other than suits we bring to enforce our patent rights we are not a party to any material pending legal proceedings other than that which arise in the ordinary course of business. &amp;nbsp;We believe that any liability that may ultimately result from the resolution of these matters will not, individually or in the aggregate, have a material adverse effect on our financial position or results of operations.&lt;/p&gt;&lt;br/&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <itus:PatentAcquisitionObligationsDiscountedPresentValue unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">3688000</itus:PatentAcquisitionObligationsDiscountedPresentValue>
  <itus:InterestExpensePatentAcquisitionObligations unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">452000</itus:InterestExpensePatentAcquisitionObligations>
  <itus:InterestExpensePatentAcquisitionObligations unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">386000</itus:InterestExpensePatentAcquisitionObligations>
  <us-gaap:AreaOfLand unitRef="sqm" contextRef="c238_AsOf31Oct2015_PropertyAvailableForOperatingLeaseMember_LosAngelesCaliforniaMember" decimals="0">3000</us-gaap:AreaOfLand>
  <us-gaap:OperatingLeasesFutureMinimumPaymentsDue unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">44000</us-gaap:OperatingLeasesFutureMinimumPaymentsDue>
  <us-gaap:LeaseAndRentalExpense unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">100000</us-gaap:LeaseAndRentalExpense>
  <us-gaap:LeaseAndRentalExpense unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">109000</us-gaap:LeaseAndRentalExpense>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px;&quot;&gt;&lt;br /&gt;8. &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font style=&quot;text-decoration: underline;&quot;&gt;INCOME TAXES&lt;/font&gt; &amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px&quot; align=&quot;justify&quot;&gt;Income tax provision (benefit) consists of the following:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;5&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Year Ended October 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Federal:&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 12px;&quot;&gt;Current&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 12px;&quot;&gt;Deferred&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;(487,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;(1,606,000)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;State:&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 12px;&quot;&gt;Current&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 12px;&quot;&gt;Deferred&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;(120,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;(1,000)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 24px; margin: 0px; text-indent: -24px;&quot;&gt;Adjustment to valuation allowance related&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 24px; margin: 0px; text-indent: -24px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;to net deferred tax assets&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;607,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;margin-bottom: -2px; font-size: 11pt; width: 20px; float: left; margin-top: 0px; text-indent: 4px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;1,607,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&lt;font style=&quot;color: #000000; font-family: times new roman,times; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; display: none ! important; float: none; background-color: #ffffff;&quot;&gt;Income tax provision (benefit)&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The tax effects of temporary differences that give rise to significant portions of the deferred tax asset, net, at October 31, 2015 and 2014, are as follows:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Long-term deferred tax assets:&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;340&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Federal and state NOL and tax credit carryforwards&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;114&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;31,261,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;31,864,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Deferred compensation&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;6,522,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;5,437,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot; width=&quot;340&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Intangibles&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot; width=&quot;114&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px; text-indent: 35px;&quot; align=&quot;right&quot;&gt;483,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Other&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px; text-indent: 35px;&quot; align=&quot;right&quot;&gt;282,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;359,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;340&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Subtotal&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;114&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;38,548,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;37,660,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;340&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Less: valuation allowance&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; width=&quot;114&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 7px;&quot; align=&quot;right&quot;&gt;(38,548,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 7px;&quot; align=&quot;right&quot;&gt;(37,660,000)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 16px;&quot;&gt;Deferred tax asset, net&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;As of October 31, 2015, we had tax net operating loss and tax credit carryforwards of approximately $75,642,000 and $1,110,000, respectively, available within statutory limits (expiring at various dates between 2016 and 2035), to offset any future regular Federal corporate taxable income and taxes payable. &amp;nbsp;If the tax benefits relating to deductions of option holders&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2019;&lt;/font&gt; income are ultimately realized, those benefits will be credited directly to additional paid-in capital. &amp;nbsp;Certain changes in stock ownership can result in a limitation on the amount of net operating loss and tax credit carryovers that can be utilized each year. As of October 31, 2015, management has not determined the extent of any such limitations, if any.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: 16px; font-size: 11pt; margin-top: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;We had New York State tax net operating loss and tax credit carryforwards of approximately $72,505,000 and $11,000, respectively, and California tax net operating loss carryforward of approximately $2,803,000, as of October 31, 2015, available within statutory limits (expiring at various dates between 2016 and 2035), to offset future corporate taxable income and taxes payable, if any, under certain computations of such taxes.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We have provided a valuation allowance against our deferred tax asset due to our current and historical pre-tax losses and the uncertainty regarding their realizability. &amp;nbsp;The primary differences from the Federal statutory rate of 34% and the effective rate of 0% is attributable to certain permanent differences and a change in the valuation allowance. &amp;nbsp;The following is a reconciliation of income taxes at the Federal statutory tax rate to income tax expense (benefit):&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;288&quot;&gt;&lt;p style=&quot;border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;&quot; align=&quot;center&quot;&gt;Year Ended October 31,&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;144&quot;&gt;&lt;p style=&quot;border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;&quot; align=&quot;center&quot;&gt;2015&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;144&quot;&gt;&lt;p style=&quot;border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;&quot; align=&quot;center&quot;&gt;2014&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Income tax benefit at U.S.&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Federal statutory income&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Tax rate&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(469,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;(34.00%)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(3,266,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;(34.00%)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;State income taxes&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;(117,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;(8.50%)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(6,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;(.06%)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Permanent differences&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;1,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;.10%&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;1,529,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;15.92%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Expiring net operating&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;losses, credits and other&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(22,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;(1.60%)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;115,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;1.19%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;padding-left: 24px; margin: 0px; text-indent: -24px;&quot;&gt;Foreign rate difference on&lt;/p&gt;&lt;p style=&quot;padding-left: 24px; margin: 0px; text-indent: -24px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;impairment&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;0%&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;21,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;.22%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Change in valuation &amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;allowance&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;607,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;44.00%&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;1,607,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;16.73%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Income tax provision&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;$ &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;0%&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;$ &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;0%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;During the two fiscal years ended October 31, 2015, we incurred no Federal and no State income taxes. &amp;nbsp;We have no unrecognized tax benefits as of October 31, 2015 and 2014 and we account for interest and penalties related to income tax matters in marketing, general and administrative expenses. &amp;nbsp;Tax years to which our net operating losses relate remain open to examination by Federal authorities and other jurisdictions to the extent which the net operating losses have yet to be utilized.&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:OperatingLossCarryforwards unitRef="usd" contextRef="c239_AsOf31Oct2015_FederalCorporateTaxableMember" decimals="0">75642000</us-gaap:OperatingLossCarryforwards>
  <us-gaap:TaxCreditCarryforwardAmount unitRef="usd" contextRef="c239_AsOf31Oct2015_FederalCorporateTaxableMember" decimals="0">1110000</us-gaap:TaxCreditCarryforwardAmount>
  <itus:OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange contextRef="c6_From1Nov2014To31Oct2015">expiring at various dates between 2016 and 2035</itus:OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange>
  <us-gaap:OperatingLossCarryforwards unitRef="usd" contextRef="c240_AsOf31Oct2015_NewYorkStateMember" decimals="0">72505000</us-gaap:OperatingLossCarryforwards>
  <us-gaap:TaxCreditCarryforwardAmount unitRef="usd" contextRef="c240_AsOf31Oct2015_NewYorkStateMember" decimals="0">11000</us-gaap:TaxCreditCarryforwardAmount>
  <us-gaap:OperatingLossCarryforwards unitRef="usd" contextRef="c241_AsOf31Oct2015_CaliforniaStateMember" decimals="0">2803000</us-gaap:OperatingLossCarryforwards>
  <us-gaap:EffectiveIncomeTaxRateContinuingOperations unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="2">0.00</us-gaap:EffectiveIncomeTaxRateContinuingOperations>
  <us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;font-size: 0px;&quot;&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;5&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Year Ended October 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Federal:&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 12px;&quot;&gt;Current&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 12px;&quot;&gt;Deferred&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;(487,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;(1,606,000)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;State:&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 12px;&quot;&gt;Current&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 12px;&quot;&gt;Deferred&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;(120,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;(1,000)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;270&quot;&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 24px; margin: 0px; text-indent: -24px;&quot;&gt;Adjustment to valuation allowance related&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; padding-left: 24px; margin: 0px; text-indent: -24px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;to net deferred tax assets&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;607,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;margin-bottom: -2px; font-size: 11pt; width: 20px; float: left; margin-top: 0px; text-indent: 4px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;1,607,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;270&quot;&gt;&lt;font style=&quot;color: #000000; font-family: times new roman,times; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; display: none ! important; float: none; background-color: #ffffff;&quot;&gt;Income tax provision (benefit)&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;108&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
  <us-gaap:CurrentFederalTaxExpenseBenefit unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" xs:nil="true"/>
  <us-gaap:CurrentFederalTaxExpenseBenefit unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" xs:nil="true"/>
  <us-gaap:DeferredFederalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">-487000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
  <us-gaap:DeferredFederalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">-1606000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
  <us-gaap:CurrentStateAndLocalTaxExpenseBenefit unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" xs:nil="true"/>
  <us-gaap:CurrentStateAndLocalTaxExpenseBenefit unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" xs:nil="true"/>
  <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">-120000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
  <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">-1000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
  <us-gaap:IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">607000</us-gaap:IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability>
  <us-gaap:IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">1607000</us-gaap:IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability>
  <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot; colspan=&quot;2&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Long-term deferred tax assets:&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;340&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Federal and state NOL and tax credit carryforwards&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;114&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;31,261,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;31,864,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Deferred compensation&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;6,522,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;5,437,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot; width=&quot;340&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Intangibles&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot; width=&quot;114&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px; text-indent: 35px;&quot; align=&quot;right&quot;&gt;483,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Other&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px; text-indent: 35px;&quot; align=&quot;right&quot;&gt;282,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;359,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;340&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Subtotal&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;114&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;38,548,000&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;37,660,000&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px; margin-top: 0px; padding: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;25&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;340&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Less: valuation allowance&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; width=&quot;114&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 7px;&quot; align=&quot;right&quot;&gt;(38,548,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 7px;&quot; align=&quot;right&quot;&gt;(37,660,000)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px; text-indent: 16px;&quot;&gt;Deferred tax asset, net&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: 0px;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;font style=&quot;font-size: medium;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double;&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
  <itus:FederalAndStateNOLAndTaxCreditCarryforwards unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">31261000</itus:FederalAndStateNOLAndTaxCreditCarryforwards>
  <itus:FederalAndStateNOLAndTaxCreditCarryforwards unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">31864000</itus:FederalAndStateNOLAndTaxCreditCarryforwards>
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">6522000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits>
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">5437000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits>
  <us-gaap:DeferredTaxAssetsGoodwillAndIntangibleAssets unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">483000</us-gaap:DeferredTaxAssetsGoodwillAndIntangibleAssets>
  <us-gaap:DeferredTaxAssetsGoodwillAndIntangibleAssets unitRef="usd" contextRef="c1_AsOf31Oct2014" xs:nil="true"/>
  <us-gaap:DeferredTaxAssetsOther unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">282000</us-gaap:DeferredTaxAssetsOther>
  <us-gaap:DeferredTaxAssetsOther unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">359000</us-gaap:DeferredTaxAssetsOther>
  <us-gaap:DeferredTaxAssetsGross unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">38548000</us-gaap:DeferredTaxAssetsGross>
  <us-gaap:DeferredTaxAssetsGross unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">37660000</us-gaap:DeferredTaxAssetsGross>
  <us-gaap:DeferredTaxAssetsValuationAllowance unitRef="usd" contextRef="c0_AsOf31Oct2015" decimals="0">38548000</us-gaap:DeferredTaxAssetsValuationAllowance>
  <us-gaap:DeferredTaxAssetsValuationAllowance unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">37660000</us-gaap:DeferredTaxAssetsValuationAllowance>
  <us-gaap:DeferredTaxAssetsNet unitRef="usd" contextRef="c0_AsOf31Oct2015" xs:nil="true"/>
  <us-gaap:DeferredTaxAssetsNet unitRef="usd" contextRef="c1_AsOf31Oct2014" xs:nil="true"/>
  <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="c6_From1Nov2014To31Oct2015">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;288&quot;&gt;&lt;p style=&quot;border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;&quot; align=&quot;center&quot;&gt;Year Ended October 31,&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;144&quot;&gt;&lt;p style=&quot;border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;&quot; align=&quot;center&quot;&gt;2015&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;144&quot;&gt;&lt;p style=&quot;border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;&quot; align=&quot;center&quot;&gt;2014&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Income tax benefit at U.S.&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Federal statutory income&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;Tax rate&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(469,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;(34.00%)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(3,266,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;(34.00%)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;State income taxes&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;(117,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;(8.50%)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(6,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;(.06%)&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Permanent differences&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;1,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;.10%&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;1,529,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;15.92%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Expiring net operating&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;losses, credits and other&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;(22,000)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;(1.60%)&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;115,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;1.19%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;padding-left: 24px; margin: 0px; text-indent: -24px;&quot;&gt;Foreign rate difference on&lt;/p&gt;&lt;p style=&quot;padding-left: 24px; margin: 0px; text-indent: -24px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;impairment&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;0%&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;21,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;.22%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Change in valuation &amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;allowance&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;607,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;44.00%&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;1,607,000&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; valign=&quot;bottom&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;nbsp;16.73%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;background-color: #cceeff;&quot;&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;168&quot;&gt;&lt;p style=&quot;margin: 0px;&quot;&gt;Income tax provision&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;$ &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;0%&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;&quot; width=&quot;84&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;$ &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;-&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;margin-top: 0px; padding: 0px;&quot; width=&quot;60&quot;&gt;&lt;p style=&quot;margin: 0px;&quot; align=&quot;right&quot;&gt;0%&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
  <us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">-469000</us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate>
  <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="4">-0.3400</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
  <us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">-3266000</us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate>
  <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="4">-0.3400</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
  <us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">-117000</us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes>
  <us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="4">-0.0850</us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes>
  <us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">-6000</us-gaap:IncomeTaxReconciliationStateAndLocalIncomeTaxes>
  <us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="4">-0.0006</us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes>
  <us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">1000</us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential>
  <us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="4">0.0010</us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential>
  <us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">1529000</us-gaap:IncomeTaxReconciliationForeignIncomeTaxRateDifferential>
  <us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="4">0.1592</us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential>
  <itus:IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">-22000</itus:IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther>
  <us-gaap:EffectiveIncomeTaxRateReconciliationTaxCredits unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="4">-0.0160</us-gaap:EffectiveIncomeTaxRateReconciliationTaxCredits>
  <itus:IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">115000</itus:IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther>
  <us-gaap:EffectiveIncomeTaxRateReconciliationTaxCredits unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="4">0.0119</us-gaap:EffectiveIncomeTaxRateReconciliationTaxCredits>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" xs:nil="true"/>
  <us-gaap:EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="2">0.00</us-gaap:EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">21000</us-gaap:IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses>
  <us-gaap:EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="4">0.0022</us-gaap:EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses>
  <us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance unitRef="usd" contextRef="c6_From1Nov2014To31Oct2015" decimals="0">607000</us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance unitRef="pure" contextRef="c6_From1Nov2014To31Oct2015" decimals="4">0.4400</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance unitRef="usd" contextRef="c7_From1Nov2013To31Oct2014" decimals="0">1607000</us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="4">0.1673</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <us-gaap:EffectiveIncomeTaxRateContinuingOperations unitRef="pure" contextRef="c7_From1Nov2013To31Oct2014" decimals="2">0.00</us-gaap:EffectiveIncomeTaxRateContinuingOperations>
</xbrl>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>9
<FILENAME>itus-20151031.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Dec 22 15:42:24 UTC 2015 -->
<xs:schema elementFormDefault="qualified" xmlns:num="http://www.xbrl.org/dtr/type/numeric" targetNamespace="http://www.copytele.com/20151031" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:us-types="http://fasb.org/us-types/2015-01-31" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:xs="http://www.w3.org/2001/XMLSchema" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:itus="http://www.copytele.com/20151031" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <xs:annotation>
    <xs:appinfo>
      <link:linkbaseRef xlink:type="simple" xlink:href="itus-20151031_lab.xml" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef"/>
      <link:linkbaseRef xlink:type="simple" xlink:href="itus-20151031_pre.xml" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef"/>
      <link:linkbaseRef xlink:type="simple" xlink:href="itus-20151031_def.xml" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef"/>
      <link:linkbaseRef xlink:type="simple" xlink:href="itus-20151031_cal.xml" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef"/>
      <link:roleType roleURI="http://www.copytele.com/role/ConsolidatedBalanceSheet" id="itus_r_ConsolidatedBalanceSheet">
        <link:definition>001 - Statement - CONSOLIDATED BALANCE SHEETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/ConsolidatedBalanceSheet_Parentheticals" id="itus_r_ConsolidatedBalanceSheet_Parentheticals">
        <link:definition>002 - Statement - CONSOLIDATED BALANCE SHEETS (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/ConsolidatedIncomeStatement" id="itus_r_ConsolidatedIncomeStatement">
        <link:definition>003 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/ConsolidatedIncomeStatement_Parentheticals" id="itus_r_ConsolidatedIncomeStatement_Parentheticals">
        <link:definition>004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/ShareholdersEquityType2or3" id="itus_r_ShareholdersEquityType2or3">
        <link:definition>005 - Statement - CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS` EQUITY</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/ShareholdersEquityType2or3_Parentheticals" id="itus_r_ShareholdersEquityType2or3_Parentheticals">
        <link:definition>006 - Statement - CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS` EQUITY (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/ConsolidatedCashFlow" id="itus_r_ConsolidatedCashFlow">
        <link:definition>007 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/ConsolidatedCashFlow_Parentheticals" id="itus_r_ConsolidatedCashFlow_Parentheticals">
        <link:definition>008 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/BUSINESSANDFUNDING" id="itus_r_BUSINESSANDFUNDING">
        <link:definition>009 - Disclosure - BUSINESS AND FUNDING</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES" id="itus_r_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES">
        <link:definition>010 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/INVESTMENTS" id="itus_r_INVESTMENTS">
        <link:definition>011 - Disclosure - INVESTMENTS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/ACCOUNTSPAYABLEANDACCRUEDEXPENSES" id="itus_r_ACCOUNTSPAYABLEANDACCRUEDEXPENSES">
        <link:definition>012 - Disclosure - ACCOUNTS PAYABLE AND ACCRUED EXPENSES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/CONVERTIBLEDEBENTURES" id="itus_r_CONVERTIBLEDEBENTURES">
        <link:definition>013 - Disclosure - CONVERTIBLE DEBENTURES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>014 - Disclosure - SHAREHOLDERS' EQUITY</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>015 - Disclosure - COMMITMENTS AND CONTINGENCIES</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>016 - Disclosure - INCOME TAXES</link:definition>
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        <link:definition>017 - Disclosure - Accounting Policies, by Policy (Policies)</link:definition>
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      <link:roleType roleURI="http://www.copytele.com/role/SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESTables" id="itus_r_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESTables">
        <link:definition>018 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>019 - Disclosure - INVESTMENTS (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>020 - Disclosure - ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>021 - Disclosure - CONVERTIBLE DEBENTURES (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.copytele.com/role/SHAREHOLDERSEQUITYTables" id="itus_r_SHAREHOLDERSEQUITYTables">
        <link:definition>022 - Disclosure - SHAREHOLDERS' EQUITY (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>023 - Disclosure - INCOME TAXES (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>024 - Disclosure - BUSINESS AND FUNDING (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>025 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>026 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis</link:definition>
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        <link:definition>027 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Summary of the changes in the fair value of the Company's Level 3 financial liabilities on recurring basis (Incomplete)</link:definition>
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        <link:definition>029 - Disclosure - INVESTMENTS (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>030 - Disclosure - INVESTMENTS (Details) - The fair value of investment</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>031 - Disclosure - ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - Accounts payable and accrued liabilities</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>039 - Disclosure - CONVERTIBLE DEBENTURES (Details) - The loss on extinguishment of debt</link:definition>
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      <link:roleType roleURI="http://www.copytele.com/role/ConvertibleDebentureTable0" id="itus_r_ConvertibleDebentureTable0">
        <link:definition>040 - Disclosure - CONVERTIBLE DEBENTURES (Details) - Convertible Debenture</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.copytele.com/role/FairvalueoftheembeddedconversionfeatureoftheConvertibleDebentureTable0" id="itus_r_FairvalueoftheembeddedconversionfeatureoftheConvertibleDebentureTable0">
        <link:definition>041 - Disclosure - CONVERTIBLE DEBENTURES (Details) - Fair value of the embedded conversion feature of the Convertible Debenture</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.copytele.com/role/FairvalueoftheConvertibleDebentureWarrantTable" id="itus_r_FairvalueoftheConvertibleDebentureWarrantTable">
        <link:definition>042 - Disclosure - CONVERTIBLE DEBENTURES (Details) - Fair value of the Convertible Debenture Warrant</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.copytele.com/role/IssuanceCostAllocationTable0" id="itus_r_IssuanceCostAllocationTable0">
        <link:definition>043 - Disclosure - CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>044 - Disclosure - CONVERTIBLE DEBENTURES (Details) - The loss on extinguishment of debt</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>045 - Disclosure - CONVERTIBLE DEBENTURES (Details) - The loss on extinguishment of debt (Parentheticals)</link:definition>
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        <link:definition>046 - Disclosure - CONVERTIBLE DEBENTURES (Details) - Intrinsic Value Computation</link:definition>
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      <link:roleType roleURI="http://www.copytele.com/role/SHAREHOLDERSEQUITYDetails" id="itus_r_SHAREHOLDERSEQUITYDetails">
        <link:definition>048 - Disclosure - SHAREHOLDERS' EQUITY (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.copytele.com/role/Informationregardingthe2003and2010SharePlanTable" id="itus_r_Informationregardingthe2003and2010SharePlanTable">
        <link:definition>049 - Disclosure - SHAREHOLDERS' EQUITY (Details) - Information regarding the 2003 and 2010 Share Plan</link:definition>
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      <link:roleType roleURI="http://www.copytele.com/role/Stockoptionsoutstandingandexercisableunder2003shareplanTable" id="itus_r_Stockoptionsoutstandingandexercisableunder2003shareplanTable">
        <link:definition>050 - Disclosure - SHAREHOLDERS' EQUITY (Details) - Stock options outstanding and exercisable under 2003 share plan</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.copytele.com/role/Stockoptionsoutstandingunder2010SharePlanTable" id="itus_r_Stockoptionsoutstandingunder2010SharePlanTable">
        <link:definition>051 - Disclosure - SHAREHOLDERS' EQUITY (Details) - Stock options outstanding under 2010 Share Plan</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>052 - Disclosure - SHAREHOLDERS' EQUITY (Details) - Stock options granted not under 2003 Share Plan and 2010 Share Plan</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>053 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.copytele.com/role/INCOMETAXESDetails" id="itus_r_INCOMETAXESDetails">
        <link:definition>054 - Disclosure - INCOME TAXES (Details)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.copytele.com/role/IncometaxprovisionbenefitTable" id="itus_r_IncometaxprovisionbenefitTable">
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        <link:definition>056 - Disclosure - INCOME TAXES (Details) - The tax effects of temporary differences of the deferred tax</link:definition>
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        <link:definition>057 - Disclosure - INCOME TAXES (Details) - Reconciliation of income taxes at the Federal statutory tax rate</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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  <xs:element name="ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue"/>
  <xs:element name="DerivativeLiabilityAndWarrant" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_DerivativeLiabilityAndWarrant"/>
  <xs:element name="CashFeeCompensationPlacementAgent" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_CashFeeCompensationPlacementAgent"/>
  <xs:element name="DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal"/>
  <xs:element name="DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest"/>
  <xs:element name="DebtConversionConvertedInstrumentAdditionalSharesIssued" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_DebtConversionConvertedInstrumentAdditionalSharesIssued"/>
  <xs:element name="RetirementAndCancellationOfShares" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RetirementAndCancellationOfShares"/>
  <xs:element name="EquityInstrumentConvertibleConversionPrice" type="num:perShareItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="itus_EquityInstrumentConvertibleConversionPrice"/>
  <xs:element name="SHAREHOLDERSEQUITYDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_SHAREHOLDERSEQUITYDetailsTable"/>
  <xs:element name="SHAREHOLDERSEQUITYDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_SHAREHOLDERSEQUITYDetailsLineItems"/>
  <xs:element name="ClassOfWarrantOrRightExpirationPeriod" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ClassOfWarrantOrRightExpirationPeriod"/>
  <xs:element name="CancellationOfWarrantsExercisePrice" type="num:perShareItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_CancellationOfWarrantsExercisePrice"/>
  <xs:element name="ConsultationFeesRelatedToOptions" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_ConsultationFeesRelatedToOptions"/>
  <xs:element name="CommonStockAntidilutionThresholdPrice" type="num:perShareItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="itus_CommonStockAntidilutionThresholdPrice"/>
  <xs:element name="CommonStockSharesOutstandingMaximumOwnershipPercentage" type="num:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="itus_CommonStockSharesOutstandingMaximumOwnershipPercentage"/>
  <xs:element name="ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod"/>
  <xs:element name="ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage" type="num:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage"/>
  <xs:element name="ConvertiblePreferredStockRedemptionNoticePeriod" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertiblePreferredStockRedemptionNoticePeriod"/>
  <xs:element name="ConertiblePreferredStockObserverDesignationNoticePeriod" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConertiblePreferredStockObserverDesignationNoticePeriod"/>
  <xs:element name="COMMITMENTSANDCONTINGENCIESDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_COMMITMENTSANDCONTINGENCIESDetailsTable"/>
  <xs:element name="COMMITMENTSANDCONTINGENCIESDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_COMMITMENTSANDCONTINGENCIESDetailsLineItems"/>
  <xs:element name="PatentAcquisitionObligationsDiscountedPresentValue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_PatentAcquisitionObligationsDiscountedPresentValue"/>
  <xs:element name="InterestExpensePatentAcquisitionObligations" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_InterestExpensePatentAcquisitionObligations"/>
  <xs:element name="INCOMETAXESDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_INCOMETAXESDetailsTable"/>
  <xs:element name="INCOMETAXESDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_INCOMETAXESDetailsLineItems"/>
  <xs:element name="OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange"/>
  <xs:element name="AccountingTreatmentAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="itus_AccountingTreatmentAxis"/>
  <xs:element name="EquityComponentDescriptionAxis" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:dimensionItem" id="itus_EquityComponentDescriptionAxis"/>
  <xs:element name="A2010SharePlanAmendmendMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_A2010SharePlanAmendmendMember"/>
  <xs:element name="A8ConvertibleDebentureMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_A8ConvertibleDebentureMember"/>
  <xs:element name="A8ConvertibleDebentureWarrantMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_A8ConvertibleDebentureWarrantMember"/>
  <xs:element name="AUOLicenseAgreementMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_AUOLicenseAgreementMember"/>
  <xs:element name="AUOSettlementMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_AUOSettlementMember"/>
  <xs:element name="AgreementMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_AgreementMember"/>
  <xs:element name="AwardsOfOptionsWith10YearTermsMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_AwardsOfOptionsWith10YearTermsMember"/>
  <xs:element name="CaliforniaStateMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_CaliforniaStateMember"/>
  <xs:element name="ChairmansCompensationMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ChairmansCompensationMember"/>
  <xs:element name="ChargedToAdditionalPaidInCapitalMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ChargedToAdditionalPaidInCapitalMember"/>
  <xs:element name="CommonStockAndPreferredStockMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_CommonStockAndPreferredStockMember"/>
  <xs:element name="ConsultantMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConsultantMember"/>
  <xs:element name="ConvertibleDebentureDueJanuary2015Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertibleDebentureDueJanuary2015Member"/>
  <xs:element name="ConvertibleDebentureDueNovember2016Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertibleDebentureDueNovember2016Member"/>
  <xs:element name="ConvertibleDebentureMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertibleDebentureMember"/>
  <xs:element name="ConvertibleDebentureWarrantMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertibleDebentureWarrantMember"/>
  <xs:element name="ConvertibleDebentureWithoutConversionFeaturesMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertibleDebentureWithoutConversionFeaturesMember"/>
  <xs:element name="ConvertibleDebenturesEmbeddedConversionFeatureMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConvertibleDebenturesEmbeddedConversionFeatureMember"/>
  <xs:element name="DirectorsAdditionalCompensationServiceMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_DirectorsAdditionalCompensationServiceMember"/>
  <xs:element name="ExpensedAsIncurredMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ExpensedAsIncurredMember"/>
  <xs:element name="FederalCorporateTaxableMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_FederalCorporateTaxableMember"/>
  <xs:element name="GlobalDepositoryReceiptsMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_GlobalDepositoryReceiptsMember"/>
  <xs:element name="InvestmentInVideoconMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_InvestmentInVideoconMember"/>
  <xs:element name="Licensees1Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_Licensees1Member"/>
  <xs:element name="Licensees2Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_Licensees2Member"/>
  <xs:element name="Licensees3Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_Licensees3Member"/>
  <xs:element name="Licensees4Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_Licensees4Member"/>
  <xs:element name="LoanReceivableFromFormerAffiliateMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_LoanReceivableFromFormerAffiliateMember"/>
  <xs:element name="LosAngelesCaliforniaMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_LosAngelesCaliforniaMember"/>
  <xs:element name="MarsLoanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_MarsLoanMember"/>
  <xs:element name="NationalSecuritiesCorporationMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_NationalSecuritiesCorporationMember"/>
  <xs:element name="NewYorkStateMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_NewYorkStateMember"/>
  <xs:element name="NonEmployeeDirectorMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_NonEmployeeDirectorMember"/>
  <xs:element name="NonqualifiedStockOptionMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_NonqualifiedStockOptionMember"/>
  <xs:element name="OutsideDirectorsMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_OutsideDirectorsMember"/>
  <xs:element name="P2003SharePlanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_P2003SharePlanMember"/>
  <xs:element name="P2010SharePlanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_P2010SharePlanMember"/>
  <xs:element name="PatentAcquisitionObligationMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_PatentAcquisitionObligationMember"/>
  <xs:element name="PatentAssignmentAgreementMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_PatentAssignmentAgreementMember"/>
  <xs:element name="PlacementAgentWarrantMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_PlacementAgentWarrantMember"/>
  <xs:element name="PresidentAndChiefExecutiveOfficerMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_PresidentAndChiefExecutiveOfficerMember"/>
  <xs:element name="RangeOfExercisePrices1475To1725Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices1475To1725Member"/>
  <xs:element name="RangeOfExercisePrices179To925Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices179To925Member"/>
  <xs:element name="RangeOfExercisePrices1875To2300Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices1875To2300Member"/>
  <xs:element name="RangeOfExercisePrices258To556Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices258To556Member"/>
  <xs:element name="RangeOfExercisePrices258To925Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices258To925Member"/>
  <xs:element name="RangeOfExercisePrices2925Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices2925Member"/>
  <xs:element name="RePricedOptionsMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RePricedOptionsMember"/>
  <xs:element name="RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember"/>
  <xs:element name="SeniorVicePresidentOfEngineeringMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_SeniorVicePresidentOfEngineeringMember"/>
  <xs:element name="StockAwardGrantedToEmployeesAndConsultantsMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockAwardGrantedToEmployeesAndConsultantsMember"/>
  <xs:element name="StockOptionsGrantedToEmployeesAndDirectorsMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockOptionsGrantedToEmployeesAndDirectorsMember"/>
  <xs:element name="StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember"/>
  <xs:element name="StrategicAdvisorMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StrategicAdvisorMember"/>
  <xs:element name="SubsidiaryLoanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_SubsidiaryLoanMember"/>
  <xs:element name="ThreeOutsideDirectorsMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ThreeOutsideDirectorsMember"/>
  <xs:element name="DocumentAndEntityInformationAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_DocumentAndEntityInformationAbstract"/>
</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>10
<FILENAME>itus-20151031_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Dec 22 15:42:24 UTC 2015 -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="itus-20151031.xsd#itus_r_ConsolidatedBalanceSheet" roleURI="http://www.copytele.com/role/ConsolidatedBalanceSheet"/>
  <roleRef xlink:type="simple" xlink:href="itus-20151031.xsd#itus_r_ConsolidatedIncomeStatement" roleURI="http://www.copytele.com/role/ConsolidatedIncomeStatement"/>
  <roleRef xlink:type="simple" xlink:href="itus-20151031.xsd#itus_r_ConsolidatedCashFlow" roleURI="http://www.copytele.com/role/ConsolidatedCashFlow"/>
  <roleRef xlink:type="simple" xlink:href="itus-20151031.xsd#itus_r_AccountspayableandaccruedliabilitiesTable" roleURI="http://www.copytele.com/role/AccountspayableandaccruedliabilitiesTable"/>
  <roleRef xlink:type="simple" xlink:href="itus-20151031.xsd#itus_r_IncometaxprovisionbenefitTable" roleURI="http://www.copytele.com/role/IncometaxprovisionbenefitTable"/>
  <roleRef xlink:type="simple" xlink:href="itus-20151031.xsd#itus_r_ThetaxeffectsoftemporarydifferencesofthedeferredtaxTable" roleURI="http://www.copytele.com/role/ThetaxeffectsoftemporarydifferencesofthedeferredtaxTable"/>
  <calculationLink xlink:type="extended" xlink:role="http://www.copytele.com/role/ConsolidatedBalanceSheet">
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue" order="1" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShortTermInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermInvestments"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_ShortTermInvestments" order="2" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableNetCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent" order="3" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" order="4" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Assets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_AssetsCurrent" order="1" weight="1"/>
    <loc xlink:type="locator" xlink:label="itus_FiniteLivedPatentsNet" xlink:href="itus-20151031.xsd#itus_FiniteLivedPatentsNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="itus_FiniteLivedPatentsNet" order="2" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_PropertyPlantAndEquipmentNet" order="3" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>11
<FILENAME>itus-20151031_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Dec 22 15:42:24 UTC 2015 -->
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>12
<FILENAME>itus-20151031_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Dec 22 15:42:24 UTC 2015 -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel"/>
  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US">Prepaid expenses and other current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property and equipment, net of accumulated depreciation of $13,617 and $48,842, respectively</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Property and equipment, accumulated depreciation (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Assets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Total assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts payable and accrued expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl0" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_RoyaltiesAndContingentLegalFeesPayable" xlink:href="itus-20151031.xsd#itus_RoyaltiesAndContingentLegalFeesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RoyaltiesAndContingentLegalFeesPayable_lbl" xml:lang="en-US">Royalties and contingent legal fees payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RoyaltiesAndContingentLegalFeesPayable" xlink:to="itus_RoyaltiesAndContingentLegalFeesPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">Total current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_PatentAcquisitionObligation" xlink:href="itus-20151031.xsd#itus_PatentAcquisitionObligation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_PatentAcquisitionObligation_lbl" xml:lang="en-US">Patent acquisition obligation (Note 7)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PatentAcquisitionObligation" xlink:to="itus_PatentAcquisitionObligation_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Liabilities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingencies" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingencies"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments and contingencies (Notes 7 and 8)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding, Series A convertible preferred stock, par value $100 per share; 140 shares issued and outstanding, respectively</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementEquityComponentsAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Equity Components [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US">Preferred Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Preferred stock par value (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl0" xml:lang="en-US">Preferred Stock, Par or Stated Value Per Share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockSharesAuthorized" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US">Preferred stock, shares authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl0" xml:lang="en-US">Preferred Stock, Shares Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockSharesIssued" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US">Preferred stock, shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesIssued_lbl0" xml:lang="en-US">Preferred Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockSharesOutstanding" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">Preferred stock, shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementClassOfStockAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementClassOfStockAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US">Class of Stock [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SeriesAPreferredStockMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SeriesAPreferredStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SeriesAPreferredStockMember_lbl" xml:lang="en-US">Series A Preferred Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeriesAPreferredStockMember" xlink:to="us-gaap_SeriesAPreferredStockMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, par value $.01 per share; 24,000,000 shares authorized; 8,724,878 and 8,788,176 shares issued and outstanding, respectively</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockValue_lbl0" xml:lang="en-US">Common Stock, Value, Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock par value (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockSharesAuthorized" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common stock, shares authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockSharesIssued" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock, shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl0" xml:lang="en-US">Common stock issued, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockSharesOutstanding" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Accumulated deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquity" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total shareholders&#8217; equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl0" xml:lang="en-US">BALANCE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl1" xml:lang="en-US">BALANCE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities and shareholders&#8217; equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeStatementAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Income Statement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RevenueFromPatentAssertionActivities" xlink:href="itus-20151031.xsd#itus_RevenueFromPatentAssertionActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RevenueFromPatentAssertionActivities_lbl" xml:lang="en-US">Revenue from licensing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RevenueFromPatentAssertionActivities" xlink:to="itus_RevenueFromPatentAssertionActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LicenseAndServicesRevenue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LicenseAndServicesRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LicenseAndServicesRevenue_lbl" xml:lang="en-US">Amortization of display technology development and license fees received from AU Optronics Corporation in fiscal year 2011</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LicenseAndServicesRevenue" xlink:to="us-gaap_LicenseAndServicesRevenue_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LicenseAndServicesRevenue_lbl0" xml:lang="en-US">License and Services Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LicenseAndServicesRevenue" xlink:to="us-gaap_LicenseAndServicesRevenue_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RevenueFromRelatedParties" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenueFromRelatedParties"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromRelatedParties_lbl" xml:lang="en-US">Settlement with AU Optronics Corporation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromRelatedParties" xlink:to="us-gaap_RevenueFromRelatedParties_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SalesRevenueNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesRevenueNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesRevenueNet_lbl" xml:lang="en-US">Total revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNet" xlink:to="us-gaap_SalesRevenueNet_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RoyaltyExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RoyaltyExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RoyaltyExpense_lbl" xml:lang="en-US">Inventor royalties and contingent legal fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RoyaltyExpense" xlink:to="us-gaap_RoyaltyExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_LitigationAndLicensingExpenses" xlink:href="itus-20151031.xsd#itus_LitigationAndLicensingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_LitigationAndLicensingExpenses_lbl" xml:lang="en-US">Litigation and licensing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LitigationAndLicensingExpenses" xlink:to="itus_LitigationAndLicensingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AmortizationOfIntangibleAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US">Amortization of patents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfIntangibleAssets" xlink:to="us-gaap_AmortizationOfIntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Marketing, general and administrative expenses (including non-cash stock option compensation expense of $2,676,309 and $3,149,799, respectively)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US">Non-cash Stock Option Compensation Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="us-gaap_AllocatedShareBasedCompensationExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CostsAndExpenses" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US">Total operating costs and expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_CostsAndExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingIncomeLoss" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">Loss from operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_lbl" xml:lang="en-US">Impairment in value of Videocon Industries Limited global depository receipts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments" xlink:to="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_lbl0" xml:lang="en-US">Impairment in value of investment in Videocon Industries Limited GDR&#8217;s</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments" xlink:to="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DerivativeGainLossOnDerivativeNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeGainLossOnDerivativeNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeGainLossOnDerivativeNet_lbl" xml:lang="en-US">Change in value of derivative liability (Note 5)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeGainLossOnDerivativeNet" xlink:to="us-gaap_DerivativeGainLossOnDerivativeNet_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_DerivativeGainLossOnDerivativeNet_lbl0" xml:lang="en-US">Change in value of derivative liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeGainLossOnDerivativeNet" xlink:to="us-gaap_DerivativeGainLossOnDerivativeNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeGainLossOnDerivativeNet_lbl1" xml:lang="en-US">Derivative, Gain (Loss) on Derivative, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeGainLossOnDerivativeNet" xlink:to="us-gaap_DerivativeGainLossOnDerivativeNet_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US">Loss on extinguishment of debt (Note 5)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl0" xml:lang="en-US">Loss on extinguishment of debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl1" xml:lang="en-US">Loss on extinguishment of debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl2" xml:lang="en-US">Gains (Losses) on Extinguishment of Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl2"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InterestExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest expense (Notes 5 and 7)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentIncomeDividend" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeDividend"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeDividend_lbl" xml:lang="en-US">Dividend income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeDividend" xlink:to="us-gaap_InvestmentIncomeDividend_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentIncomeInterest" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US">Interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Loss before income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Provision for income taxes (Note 8)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl0" xml:lang="en-US">Income tax provision (benefit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl1" xml:lang="en-US">Income tax provision</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetIncomeLoss" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl0" xml:lang="en-US">Net Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl1" xml:lang="en-US">Net loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xml:lang="en-US">Basic and diluted (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xml:lang="en-US">Basic and diluted (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:to="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US">Statement of Stockholders&apos; Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharesIssued" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_SharesIssued_lbl" xml:lang="en-US">BALANCE (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharesIssued_lbl0" xml:lang="en-US">BALANCE (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl" xml:lang="en-US">Stock option compensation to employees and consultants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xml:lang="en-US">Common stock issued upon exercise of stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Common stock issued upon exercise of stock options (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl" xml:lang="en-US">Common stock issued to consultants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:to="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl" xml:lang="en-US">Common stock issued to consultants (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:to="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl0" xml:lang="en-US">Stock Issued During Period, Shares, Issued for Services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:to="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_lbl" xml:lang="en-US">Common stock issued upon conversion of convertible debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:to="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_lbl0" xml:lang="en-US">Common stock issued upon conversion of debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:to="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl" xml:lang="en-US">Common stock issued upon conversion of convertible debentures (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:to="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl0" xml:lang="en-US">Stock Issued During Period, Shares, Conversion of Convertible Securities (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:to="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl1" xml:lang="en-US">Stock Issued During Period, Shares, Conversion of Convertible Securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:to="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl1"/>
    <loc xlink:type="locator" xlink:label="itus_EquityComponentDescriptionAxis" xlink:href="itus-20151031.xsd#itus_EquityComponentDescriptionAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_EquityComponentDescriptionAxis_lbl" xml:lang="en-US">Equity Component Description [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_EquityComponentDescriptionAxis" xlink:to="itus_EquityComponentDescriptionAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CommonStockAndPreferredStockMember" xlink:href="itus-20151031.xsd#itus_CommonStockAndPreferredStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_CommonStockAndPreferredStockMember_lbl" xml:lang="en-US">Common Stock And Preferred Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CommonStockAndPreferredStockMember" xlink:to="itus_CommonStockAndPreferredStockMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities" xlink:href="itus-20151031.xsd#itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities_lbl" xml:lang="en-US">Common stock issued in lieu of interest on convertible debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities" xlink:to="itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities" xlink:href="itus-20151031.xsd#itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities_lbl" xml:lang="en-US">Common stock issued in lieu of interest on convertible debentures (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities" xlink:to="itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US">Sale of common stock, net of expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl0" xml:lang="en-US">Proceeds from sale of common stock, net of expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl1" xml:lang="en-US">Proceeds from Issuance of Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl2" xml:lang="en-US">Proceeds from Issuance of Common Stock (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl2"/>
    <loc xlink:type="locator" xlink:label="itus_ProceedsFromIssuanceOfCommonStockShares" xlink:href="itus-20151031.xsd#itus_ProceedsFromIssuanceOfCommonStockShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ProceedsFromIssuanceOfCommonStockShares_lbl" xml:lang="en-US">Sale of common stock, net of expense (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ProceedsFromIssuanceOfCommonStockShares" xlink:to="itus_ProceedsFromIssuanceOfCommonStockShares_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockRepurchasedDuringPeriodValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedDuringPeriodValue_lbl" xml:lang="en-US">Acquisition of common stock in exchange for investment in Videocon Industries Limited global depository receipts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedDuringPeriodValue" xlink:to="us-gaap_StockRepurchasedDuringPeriodValue_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockRepurchasedDuringPeriodValue_lbl0" xml:lang="en-US">Stock Repurchased During Period, Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedDuringPeriodValue" xlink:to="us-gaap_StockRepurchasedDuringPeriodValue_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xml:lang="en-US">Related Party [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_InvestmentInVideoconMember" xlink:href="itus-20151031.xsd#itus_InvestmentInVideoconMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_InvestmentInVideoconMember_lbl" xml:lang="en-US">Investment In Videocon [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_InvestmentInVideoconMember" xlink:to="itus_InvestmentInVideoconMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xml:lang="en-US">Retire common stock repurchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:to="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xml:lang="en-US">Retire common stock repurchased (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:to="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued_lbl" xml:lang="en-US">Warrants issued in connection with issuance of convertible debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueOther" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueOther_lbl" xml:lang="en-US">Common stock issued upon exercise of warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueOther" xlink:to="us-gaap_StockIssuedDuringPeriodValueOther_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesOther" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesOther_lbl" xml:lang="en-US">Common stock issued upon exercise of warrants (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesOther" xlink:to="us-gaap_StockIssuedDuringPeriodSharesOther_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockIssuedDuringPeriodValuePatentLicense" xlink:href="itus-20151031.xsd#itus_StockIssuedDuringPeriodValuePatentLicense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockIssuedDuringPeriodValuePatentLicense_lbl" xml:lang="en-US">Common stock issued to acquire patent license</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodValuePatentLicense" xlink:to="itus_StockIssuedDuringPeriodValuePatentLicense_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockIssuedDuringPeriodSharesPatentLicense" xlink:href="itus-20151031.xsd#itus_StockIssuedDuringPeriodSharesPatentLicense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockIssuedDuringPeriodSharesPatentLicense_lbl" xml:lang="en-US">Common stock issued to acquire patent license (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodSharesPatentLicense" xlink:to="itus_StockIssuedDuringPeriodSharesPatentLicense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LoansAndLeasesReceivableRelatedPartiesCollections" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansAndLeasesReceivableRelatedPartiesCollections"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableRelatedPartiesCollections_lbl" xml:lang="en-US">Satisfaction of loan receivable from former affiliate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableRelatedPartiesCollections" xlink:to="us-gaap_LoansAndLeasesReceivableRelatedPartiesCollections_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants" xlink:href="itus-20151031.xsd#itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants_lbl" xml:lang="en-US">Repurchase 92,232 shares of common stock and cancellation of warrants to purchase 16,000 shares of common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants" xlink:to="itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_TreasuryStockSharesAcquired" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockSharesAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockSharesAcquired_lbl" xml:lang="en-US">Treasury Stock, Shares, Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockSharesAcquired" xlink:to="us-gaap_TreasuryStockSharesAcquired_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockSharesAcquired_lbl0" xml:lang="en-US">Number of Common Stock Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockSharesAcquired" xlink:to="us-gaap_TreasuryStockSharesAcquired_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl" xml:lang="en-US">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:to="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl0" xml:lang="en-US">Number Of Warrants Cancelled</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:to="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl1" xml:lang="en-US">Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:to="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdditionalPaidInCapitalMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Additional Paid-in Capital [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_LoanReceivableFromFormerAffiliateMember" xlink:href="itus-20151031.xsd#itus_LoanReceivableFromFormerAffiliateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_LoanReceivableFromFormerAffiliateMember_lbl" xml:lang="en-US">Loan Receivable From Former Affiliate [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LoanReceivableFromFormerAffiliateMember" xlink:to="itus_LoanReceivableFromFormerAffiliateMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RetainedEarningsMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US">Retained Earnings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of Cash Flows [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockOptionPlanExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockOptionPlanExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockOptionPlanExpense_lbl" xml:lang="en-US">Stock option compensation to employees and consultants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockOptionPlanExpense" xlink:to="us-gaap_StockOptionPlanExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims_lbl" xml:lang="en-US">Common stock issued to consultants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims" xlink:to="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" xlink:href="itus-20151031.xsd#itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense_lbl" xml:lang="en-US">Accretion of interest on patent acquisition obligations to interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" xlink:to="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense_lbl0" xml:lang="en-US">Accretion of interest on patent obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" xlink:to="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants" xlink:href="itus-20151031.xsd#itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants_lbl" xml:lang="en-US">Loss on acquisition of common stock and warrants to purchase common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants" xlink:to="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_DebtInstrumentDecreaseAccruedInterest" xlink:href="itus-20151031.xsd#itus_DebtInstrumentDecreaseAccruedInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DebtInstrumentDecreaseAccruedInterest_lbl" xml:lang="en-US">Accrued interest reversed on conversion of convertible debenture</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentDecreaseAccruedInterest" xlink:to="itus_DebtInstrumentDecreaseAccruedInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfDebtDiscountPremium"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xml:lang="en-US">Amortization of convertible debenture discount charge to interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfDebtDiscountPremium" xlink:to="us-gaap_AmortizationOfDebtDiscountPremium_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl0" xml:lang="en-US">Amortization of Debt Discount (Premium)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfDebtDiscountPremium" xlink:to="us-gaap_AmortizationOfDebtDiscountPremium_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaidInKindInterest" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaidInKindInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaidInKindInterest_lbl" xml:lang="en-US">Common stock issued to pay interest on convertible debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaidInKindInterest" xlink:to="us-gaap_PaidInKindInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xml:lang="en-US">Common stock issued to acquire patent license</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherNoncashIncomeExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNoncashIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherNoncashIncomeExpense_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncashIncomeExpense" xlink:to="us-gaap_OtherNoncashIncomeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US">Accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US">Prepaid expenses and other current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Accounts payable and accrued expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable" xlink:href="itus-20151031.xsd#itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl" xml:lang="en-US">Royalties and contingent legal fees payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable" xlink:to="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xml:lang="en-US">Deferred revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:to="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by (used in) operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsToAcquireShortTermInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireShortTermInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireShortTermInvestments_lbl" xml:lang="en-US">Disbursements to acquire short-term investments in certificates of deposit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireShortTermInvestments" xlink:to="us-gaap_PaymentsToAcquireShortTermInvestments_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireShortTermInvestments_lbl0" xml:lang="en-US">Payments to Acquire Short-term Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireShortTermInvestments" xlink:to="us-gaap_PaymentsToAcquireShortTermInvestments_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromSaleOfShortTermInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromSaleOfShortTermInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfShortTermInvestments_lbl" xml:lang="en-US">Proceeds from maturities of short-term investments in certificates of deposit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfShortTermInvestments" xlink:to="us-gaap_ProceedsFromSaleOfShortTermInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchase of property and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl0" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash provided by (used in) investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromConvertibleDebt" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromConvertibleDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromConvertibleDebt_lbl" xml:lang="en-US">Proceeds from issuance of convertible debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromConvertibleDebt" xlink:to="us-gaap_ProceedsFromConvertibleDebt_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromConvertibleDebt_lbl0" xml:lang="en-US">Proceeds from Convertible Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromConvertibleDebt" xlink:to="us-gaap_ProceedsFromConvertibleDebt_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromWarrantExercises" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromWarrantExercises"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromWarrantExercises_lbl" xml:lang="en-US">Proceeds from exercise of warrants to purchase common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromWarrantExercises" xlink:to="us-gaap_ProceedsFromWarrantExercises_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromStockOptionsExercised" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US">Proceeds from exercise of employee stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl0" xml:lang="en-US">Proceeds from Stock Options Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant" xlink:href="itus-20151031.xsd#itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant_lbl" xml:lang="en-US">Payments to acquire 92,232 shares of common stock and cancellation of warrants to purchase 16,000 shares of common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant" xlink:to="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RepaymentsOfConvertibleDebt" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfConvertibleDebt"/>
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    <loc xlink:type="locator" xlink:label="itus_CommonStockIssuedToAcquirePatentLicense" xlink:href="itus-20151031.xsd#itus_CommonStockIssuedToAcquirePatentLicense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itus_CommonStockIssuedToAcquirePatentLicense_lbl" xml:lang="en-US">Common stock issued to acquire patent license</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature_lbl" xml:lang="en-US">Fair value of debenture embedded conversion feature, at issuance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature" xlink:to="us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueAdjustmentOfWarrants" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAdjustmentOfWarrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAdjustmentOfWarrants_lbl" xml:lang="en-US">Relative fair value of convertible debenture warrant, at issuance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAdjustmentOfWarrants" xlink:to="us-gaap_FairValueAdjustmentOfWarrants_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConversionOfStockAmountIssued1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConversionOfStockAmountIssued1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConversionOfStockAmountIssued1_lbl" xml:lang="en-US">Non-cash acquisition of 20,000,000 shares of common stock</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssued1_lbl" xml:lang="en-US">Common stock and preferred stock issued upon conversion of convertible debentures due November 2016</label>
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    <loc xlink:type="locator" xlink:label="itus_CancellationOfLoanReceivableFromFormerAffiliate" xlink:href="itus-20151031.xsd#itus_CancellationOfLoanReceivableFromFormerAffiliate"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CancellationOfLoanReceivableFromFormerAffiliate" xlink:to="itus_CancellationOfLoanReceivableFromFormerAffiliate_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CancellationOfLoanPayableToFormerAffiliate" xlink:to="itus_CancellationOfLoanPayableToFormerAffiliate_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_HierarchyForOurFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisAbstract" xlink:href="itus-20151031.xsd#itus_HierarchyForOurFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnARecurringBasisAbstract"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAxis"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAxis" xlink:to="us-gaap_CashAndCashEquivalentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_MoneyMarketFundsMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MoneyMarketFundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MoneyMarketFundsMember_lbl" xml:lang="en-US">Money Market Funds [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MoneyMarketFundsMember" xlink:to="us-gaap_MoneyMarketFundsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xml:lang="en-US">Money market funds &#8211; Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:to="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CertificatesOfDepositMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CertificatesOfDepositMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CertificatesOfDepositMember_lbl" xml:lang="en-US">Certificates of Deposit [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CertificatesOfDepositMember" xlink:to="us-gaap_CertificatesOfDepositMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentsFairValueDisclosure" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentsFairValueDisclosure_lbl" xml:lang="en-US">Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsFairValueDisclosure" xlink:to="us-gaap_InvestmentsFairValueDisclosure_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsFairValueDisclosure" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xml:lang="en-US">Total financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_GainLossOnInvestmentsByCategoryAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainLossOnInvestmentsByCategoryAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnInvestmentsByCategoryAxis_lbl" xml:lang="en-US">Investments by Category [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnInvestmentsByCategoryAxis" xlink:to="us-gaap_GainLossOnInvestmentsByCategoryAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_GlobalDepositoryReceiptsMember" xlink:href="itus-20151031.xsd#itus_GlobalDepositoryReceiptsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_GlobalDepositoryReceiptsMember_lbl" xml:lang="en-US">Global Depository Receipts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_GlobalDepositoryReceiptsMember" xlink:to="itus_GlobalDepositoryReceiptsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations_lbl" xml:lang="en-US">Patent acquisition obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations" xlink:to="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations_lbl0" xml:lang="en-US">Initial fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations" xlink:to="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xml:lang="en-US">Fair Value, Hierarchy [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsLevel1Member" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsLevel2Member" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel2Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsLevel3Member" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel3Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_SummaryOfTheChangesInTheFairValueOfTheCompanysLevel3FinancialLiabilitiesOnRecurringBasisIncompleteAbstract" xlink:href="itus-20151031.xsd#itus_SummaryOfTheChangesInTheFairValueOfTheCompanysLevel3FinancialLiabilitiesOnRecurringBasisIncompleteAbstract"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_FairValueByLiabilityClassAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByLiabilityClassAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByLiabilityClassAxis_lbl" xml:lang="en-US">Liability Class [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByLiabilityClassAxis" xlink:to="us-gaap_FairValueByLiabilityClassAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_PatentAcquisitionObligationMember" xlink:href="itus-20151031.xsd#itus_PatentAcquisitionObligationMember"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PatentAcquisitionObligationMember" xlink:to="itus_PatentAcquisitionObligationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl" xml:lang="en-US">Balance October 31, 2013</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl0" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_WeightedAverageAssumptionsUsedInEstimatingTheFairValueOfStockOptionsAbstract" xlink:href="itus-20151031.xsd#itus_WeightedAverageAssumptionsUsedInEstimatingTheFairValueOfStockOptionsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_WeightedAverageAssumptionsUsedInEstimatingTheFairValueOfStockOptionsAbstract_lbl" xml:lang="en-US">Weighted average assumptions used in estimating the fair value of stock options [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_WeightedAverageAssumptionsUsedInEstimatingTheFairValueOfStockOptionsAbstract" xlink:to="itus_WeightedAverageAssumptionsUsedInEstimatingTheFairValueOfStockOptionsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Weighted average fair value at grant date (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl" xml:lang="en-US">Expected life ( years)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" xml:lang="en-US">Expected volatility</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" xml:lang="en-US">Risk-free interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_lbl" xml:lang="en-US">Expected dividend yield</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_lbl"/>
    <loc xlink:type="locator" xlink:label="invest_InvestmentsScheduleAbstract" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentsScheduleAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_InvestmentsScheduleAbstract_lbl" xml:lang="en-US">Investments Schedule [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentsScheduleAbstract" xlink:to="invest_InvestmentsScheduleAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_TheFairValueOfInvestmentAbstract" xlink:href="itus-20151031.xsd#itus_TheFairValueOfInvestmentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_TheFairValueOfInvestmentAbstract_lbl" xml:lang="en-US">The fair value of investment [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_TheFairValueOfInvestmentAbstract" xlink:to="itus_TheFairValueOfInvestmentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent_lbl" xml:lang="en-US">Fair Value as of October 31, 2013</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent" xlink:to="us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ImpairmentOfInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ImpairmentOfInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ImpairmentOfInvestments_lbl" xml:lang="en-US">Other than temporary impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOfInvestments" xlink:to="us-gaap_ImpairmentOfInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset_lbl" xml:lang="en-US">Fair value of Videocon GDRs on date of disposition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset" xlink:to="us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset_lbl0" xml:lang="en-US">Impaired Assets to be Disposed of by Method Other than Sale, Carrying Value of Asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset" xlink:to="us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionAxis_lbl" xml:lang="en-US">Related Party Transaction [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionAxis" xlink:to="us-gaap_RelatedPartyTransactionAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PayablesAndAccrualsAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PayablesAndAccrualsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PayablesAndAccrualsAbstract_lbl" xml:lang="en-US">Payables and Accruals [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PayablesAndAccrualsAbstract" xlink:to="us-gaap_PayablesAndAccrualsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_AccountsPayableAndAccruedLiabilitiesAbstract" xlink:href="itus-20151031.xsd#itus_AccountsPayableAndAccruedLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AccountsPayableAndAccruedLiabilitiesAbstract_lbl" xml:lang="en-US">Accounts payable and accrued liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AccountsPayableAndAccruedLiabilitiesAbstract" xlink:to="itus_AccountsPayableAndAccruedLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsPayableCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US">Accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xml:lang="en-US">Payroll and related expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:to="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccruedProfessionalFeesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedProfessionalFeesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedProfessionalFeesCurrent_lbl" xml:lang="en-US">Accrued litigation expense, consulting and other professional fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedProfessionalFeesCurrent" xlink:to="us-gaap_AccruedProfessionalFeesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accrued other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtDisclosureAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureAbstract_lbl" xml:lang="en-US">Debt Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureAbstract" xlink:to="us-gaap_DebtDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xml:lang="en-US">Debt Instrument [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="us-gaap_DebtInstrumentAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleDebentureDueJanuary2015Member" xlink:href="itus-20151031.xsd#itus_ConvertibleDebentureDueJanuary2015Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConvertibleDebentureDueJanuary2015Member_lbl" xml:lang="en-US">Convertible Debenture Due January 2015 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebentureDueJanuary2015Member" xlink:to="itus_ConvertibleDebentureDueJanuary2015Member_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleDebentureAbstract" xlink:href="itus-20151031.xsd#itus_ConvertibleDebentureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConvertibleDebentureAbstract_lbl" xml:lang="en-US">Convertible Debenture [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebentureAbstract" xlink:to="itus_ConvertibleDebentureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LongtermDebtTypeAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US">Long-term Debt, Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentFaceAmount" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFaceAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US">Face value of Convertible Debenture due January 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl0" xml:lang="en-US">Face value of debt converted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl1" xml:lang="en-US">Face value of Convertible Debenture due November 2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl2" xml:lang="en-US">Face value of convertible debenture converted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl3" xml:lang="en-US">Less the face value of the convertible debenture</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl4" xml:lang="en-US">Debt Instrument, Face Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl4"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl" xml:lang="en-US">Fair value of embedded conversion feature</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability" xlink:to="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl0" xml:lang="en-US">Plus: fair value of derivative liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability" xlink:to="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl1" xml:lang="en-US">Aggregate fair value (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability" xlink:to="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl2" xml:lang="en-US">Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability" xlink:to="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl3" xml:lang="en-US">Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability" xlink:to="us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_lbl3"/>
    <loc xlink:type="locator" xlink:label="itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure" xlink:href="itus-20151031.xsd#itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure_lbl" xml:lang="en-US">Relative fair value of Convertible Debenture Warrant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure" xlink:to="itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xml:lang="en-US">Discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnamortizedDiscount" xlink:to="us-gaap_DebtInstrumentUnamortizedDiscount_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl0" xml:lang="en-US">Debt Instrument, Unamortized Discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnamortizedDiscount" xlink:to="us-gaap_DebtInstrumentUnamortizedDiscount_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LongTermDebt" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Proceeds attributable to the Convertible Debenture due January 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DerivativeInstrumentRiskAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xml:lang="en-US">Derivative Instrument [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentRiskAxis" xlink:to="us-gaap_DerivativeInstrumentRiskAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleDebenturesEmbeddedConversionFeatureMember" xlink:href="itus-20151031.xsd#itus_ConvertibleDebenturesEmbeddedConversionFeatureMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConvertibleDebenturesEmbeddedConversionFeatureMember_lbl" xml:lang="en-US">Convertible Debentures Embedded Conversion Feature [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebenturesEmbeddedConversionFeatureMember" xlink:to="itus_ConvertibleDebenturesEmbeddedConversionFeatureMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_FairValueOfTheEmbeddedConversionFeatureOfTheConvertibleDebentureAbstract" xlink:href="itus-20151031.xsd#itus_FairValueOfTheEmbeddedConversionFeatureOfTheConvertibleDebentureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_FairValueOfTheEmbeddedConversionFeatureOfTheConvertibleDebentureAbstract_lbl" xml:lang="en-US">Fair value of the embedded conversion feature of the Convertible Debenture [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FairValueOfTheEmbeddedConversionFeatureOfTheConvertibleDebentureAbstract" xlink:to="itus_FairValueOfTheEmbeddedConversionFeatureOfTheConvertibleDebentureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharePrice_lbl" xml:lang="en-US">Stock price on valuation date (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharePrice" xlink:to="us-gaap_SharePrice_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="us-gaap_SharePrice_lbl0" xml:lang="en-US">Stock price on valuation date (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharePrice" xlink:to="us-gaap_SharePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SharePrice_lbl1" xml:lang="en-US">Stock price used for valuation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharePrice" xlink:to="us-gaap_SharePrice_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharePrice_lbl2" xml:lang="en-US">Stock price used for valuation (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharePrice" xlink:to="us-gaap_SharePrice_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_SharePrice_lbl3" xml:lang="en-US">Share Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharePrice" xlink:to="us-gaap_SharePrice_lbl3"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentConvertibleConversionPrice1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleConversionPrice1_lbl" xml:lang="en-US">Conversion price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:to="us-gaap_DebtInstrumentConvertibleConversionPrice1_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentConvertibleConversionPrice1_lbl0" xml:lang="en-US">Debt Instrument, Convertible, Conversion Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:to="us-gaap_DebtInstrumentConvertibleConversionPrice1_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_StockPremiumForLiquidity" xlink:href="itus-20151031.xsd#itus_StockPremiumForLiquidity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockPremiumForLiquidity_lbl" xml:lang="en-US">Stock premium for liquidity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockPremiumForLiquidity" xlink:to="itus_StockPremiumForLiquidity_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueAssumptionsExpectedTerm" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssumptionsExpectedTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssumptionsExpectedTerm_lbl" xml:lang="en-US">Term (years)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsExpectedTerm" xlink:to="us-gaap_FairValueAssumptionsExpectedTerm_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueAssumptionsExpectedVolatilityRate" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssumptionsExpectedVolatilityRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueAssumptionsExpectedVolatilityRate_lbl" xml:lang="en-US">Expected volatility</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsExpectedVolatilityRate" xlink:to="us-gaap_FairValueAssumptionsExpectedVolatilityRate_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueAssumptionsRiskFreeInterestRate" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssumptionsRiskFreeInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssumptionsRiskFreeInterestRate_lbl" xml:lang="en-US">Weighted average risk-free interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsRiskFreeInterestRate" xlink:to="us-gaap_FairValueAssumptionsRiskFreeInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_Trials" xlink:href="itus-20151031.xsd#itus_Trials"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_Trials_lbl" xml:lang="en-US">Trials (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_Trials" xlink:to="itus_Trials_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_Trials_lbl0" xml:lang="en-US">Trials (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_Trials" xlink:to="itus_Trials_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueEstimateNotPracticableDisclosureItemsAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueEstimateNotPracticableDisclosureItemsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueEstimateNotPracticableDisclosureItemsAxis_lbl" xml:lang="en-US">Fair Value, Estimate Not Practicable, Disclosure Items [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueEstimateNotPracticableDisclosureItemsAxis" xlink:to="us-gaap_FairValueEstimateNotPracticableDisclosureItemsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleDebentureWarrantMember" xlink:href="itus-20151031.xsd#itus_ConvertibleDebentureWarrantMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConvertibleDebentureWarrantMember_lbl" xml:lang="en-US">Convertible Debenture Warrant [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebentureWarrantMember" xlink:to="itus_ConvertibleDebentureWarrantMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_FairValueOfTheConvertibleAbstract" xlink:href="itus-20151031.xsd#itus_FairValueOfTheConvertibleAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_FairValueOfTheConvertibleAbstract_lbl" xml:lang="en-US">Fair value of the Convertible [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FairValueOfTheConvertibleAbstract" xlink:to="itus_FairValueOfTheConvertibleAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueAssumptionsExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssumptionsExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueAssumptionsExercisePrice_lbl" xml:lang="en-US">Exercise price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsExercisePrice" xlink:to="us-gaap_FairValueAssumptionsExercisePrice_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssumptionsExercisePrice_lbl0" xml:lang="en-US">Exercise price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsExercisePrice" xlink:to="us-gaap_FairValueAssumptionsExercisePrice_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_WarrantExerciseTriggerPrice" xlink:href="itus-20151031.xsd#itus_WarrantExerciseTriggerPrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_WarrantExerciseTriggerPrice_lbl" xml:lang="en-US">Warrant exercise trigger price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_WarrantExerciseTriggerPrice" xlink:to="itus_WarrantExerciseTriggerPrice_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ClassOfWarrantOrRightOutstanding" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassOfWarrantOrRightOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ClassOfWarrantOrRightOutstanding_lbl" xml:lang="en-US">Number of warrants (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightOutstanding" xlink:to="us-gaap_ClassOfWarrantOrRightOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfWarrantOrRightOutstanding_lbl0" xml:lang="en-US">Number of warrants (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightOutstanding" xlink:to="us-gaap_ClassOfWarrantOrRightOutstanding_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WarrantsNotSettleableInCashFairValueDisclosure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure_lbl" xml:lang="en-US">Aggregate fair value (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure" xlink:to="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure_lbl0" xml:lang="en-US">Aggregate fair value (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure" xlink:to="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure_lbl1" xml:lang="en-US">Plus: fair value of warrant exchanged in connection with the conversion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure" xlink:to="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure_lbl2" xml:lang="en-US">Warrants Not Settleable in Cash, Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure" xlink:to="us-gaap_WarrantsNotSettleableInCashFairValueDisclosure_lbl2"/>
    <loc xlink:type="locator" xlink:label="itus_IssuanceCostAllocationAbstract" xlink:href="itus-20151031.xsd#itus_IssuanceCostAllocationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_IssuanceCostAllocationAbstract_lbl" xml:lang="en-US">Issuance Cost Allocation [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IssuanceCostAllocationAbstract" xlink:to="itus_IssuanceCostAllocationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_AccountingTreatmentAxis" xlink:href="itus-20151031.xsd#itus_AccountingTreatmentAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_AccountingTreatmentAxis_lbl" xml:lang="en-US">Accounting Treatment [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AccountingTreatmentAxis" xlink:to="itus_AccountingTreatmentAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ExpensedAsIncurredMember" xlink:href="itus-20151031.xsd#itus_ExpensedAsIncurredMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ExpensedAsIncurredMember_lbl" xml:lang="en-US">Expensed As Incurred [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ExpensedAsIncurredMember" xlink:to="itus_ExpensedAsIncurredMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtIssuanceCosts" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtIssuanceCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtIssuanceCosts_lbl" xml:lang="en-US">Allocated issuance costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtIssuanceCosts" xlink:to="us-gaap_DebtIssuanceCosts_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtIssuanceCosts_lbl0" xml:lang="en-US">Less: deferred issuance costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtIssuanceCosts" xlink:to="us-gaap_DebtIssuanceCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtIssuanceCosts_lbl1" xml:lang="en-US">Debt Issuance Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtIssuanceCosts" xlink:to="us-gaap_DebtIssuanceCosts_lbl1"/>
    <loc xlink:type="locator" xlink:label="itus_ChargedToAdditionalPaidInCapitalMember" xlink:href="itus-20151031.xsd#itus_ChargedToAdditionalPaidInCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ChargedToAdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Charged To Additional Paid In Capital [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ChargedToAdditionalPaidInCapitalMember" xlink:to="itus_ChargedToAdditionalPaidInCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember" xlink:href="itus-20151031.xsd#itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember_lbl" xml:lang="en-US">Recorded As Deferred Issuance Costs And Amortized Under The Interest Method Over The Term Of The 8 Convertible Debenture [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember" xlink:to="itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_IntrinsicValueComputationAbstract" xlink:href="itus-20151031.xsd#itus_IntrinsicValueComputationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_IntrinsicValueComputationAbstract_lbl" xml:lang="en-US">Intrinsic Value Computation [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IntrinsicValueComputationAbstract" xlink:to="itus_IntrinsicValueComputationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleDebentureMember" xlink:href="itus-20151031.xsd#itus_ConvertibleDebentureMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConvertibleDebentureMember_lbl" xml:lang="en-US">Convertible Debenture [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebentureMember" xlink:to="itus_ConvertibleDebentureMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtConversionConvertedInstrumentType" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtConversionConvertedInstrumentType"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtConversionConvertedInstrumentType_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionConvertedInstrumentType" xlink:to="us-gaap_DebtConversionConvertedInstrumentType_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtConversionConvertedInstrumentSharesIssued1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtConversionConvertedInstrumentSharesIssued1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtConversionConvertedInstrumentSharesIssued1_lbl" xml:lang="en-US">Issuance of shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionConvertedInstrumentSharesIssued1" xlink:to="us-gaap_DebtConversionConvertedInstrumentSharesIssued1_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtConversionConvertedInstrumentSharesIssued1_lbl0" xml:lang="en-US">Debt Conversion, Converted Instrument, Shares Issued (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionConvertedInstrumentSharesIssued1" xlink:to="us-gaap_DebtConversionConvertedInstrumentSharesIssued1_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentCarryingAmount" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US">Aggregate intrinsic value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_DebtInstrumentCarryingAmount_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl0" xml:lang="en-US">Net book value of debt converted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_DebtInstrumentCarryingAmount_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_TheLossOnExtinguishmentOfDebtAbstract" xlink:href="itus-20151031.xsd#itus_TheLossOnExtinguishmentOfDebtAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_TheLossOnExtinguishmentOfDebtAbstract_lbl" xml:lang="en-US">The loss on extinguishment of debt [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_TheLossOnExtinguishmentOfDebtAbstract" xlink:to="itus_TheLossOnExtinguishmentOfDebtAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleDebtDiscount" xlink:href="itus-20151031.xsd#itus_ConvertibleDebtDiscount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConvertibleDebtDiscount_lbl" xml:lang="en-US">Less: discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebtDiscount" xlink:to="itus_ConvertibleDebtDiscount_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConvertibleDebtDiscount_lbl0" xml:lang="en-US">Less: debt discount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebtDiscount" xlink:to="itus_ConvertibleDebtDiscount_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleDebentureDueNovember2016Member" xlink:href="itus-20151031.xsd#itus_ConvertibleDebentureDueNovember2016Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConvertibleDebentureDueNovember2016Member_lbl" xml:lang="en-US">Convertible Debenture Due November 2016 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebentureDueNovember2016Member" xlink:to="itus_ConvertibleDebentureDueNovember2016Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConvertibleDebt" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConvertibleDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConvertibleDebt_lbl" xml:lang="en-US">Proceeds attributable to the Convertible Debenture due November 2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertibleDebt" xlink:to="us-gaap_ConvertibleDebt_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConvertibleDebt_lbl0" xml:lang="en-US">Convertible Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertibleDebt" xlink:to="us-gaap_ConvertibleDebt_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_DiscountForLackOfMarketability" xlink:href="itus-20151031.xsd#itus_DiscountForLackOfMarketability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DiscountForLackOfMarketability_lbl" xml:lang="en-US">Discount for lack of marketability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DiscountForLackOfMarketability" xlink:to="itus_DiscountForLackOfMarketability_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_FairValueOfTheConvertibleDebentureWarrantAbstract" xlink:href="itus-20151031.xsd#itus_FairValueOfTheConvertibleDebentureWarrantAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_FairValueOfTheConvertibleDebentureWarrantAbstract_lbl" xml:lang="en-US">Fair value of the Convertible Debenture Warrant [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FairValueOfTheConvertibleDebentureWarrantAbstract" xlink:to="itus_FairValueOfTheConvertibleDebentureWarrantAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_A8ConvertibleDebentureWarrantMember" xlink:href="itus-20151031.xsd#itus_A8ConvertibleDebentureWarrantMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_A8ConvertibleDebentureWarrantMember_lbl" xml:lang="en-US">8% Convertible Debenture Warrant [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_A8ConvertibleDebentureWarrantMember" xlink:to="itus_A8ConvertibleDebentureWarrantMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ExtinguishmentOfDebtAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ExtinguishmentOfDebtAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ExtinguishmentOfDebtAxis_lbl" xml:lang="en-US">Extinguishment of Debt [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExtinguishmentOfDebtAxis" xlink:to="us-gaap_ExtinguishmentOfDebtAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LongTermDebtMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMember_lbl" xml:lang="en-US">Long-term Debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMember" xlink:to="us-gaap_LongTermDebtMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentIncreaseAccruedInterest" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentIncreaseAccruedInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentIncreaseAccruedInterest_lbl" xml:lang="en-US">Plus: accrued interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentIncreaseAccruedInterest" xlink:to="us-gaap_DebtInstrumentIncreaseAccruedInterest_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentIncreaseAccruedInterest_lbl0" xml:lang="en-US">Debt Instrument, Increase, Accrued Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentIncreaseAccruedInterest" xlink:to="us-gaap_DebtInstrumentIncreaseAccruedInterest_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange" xlink:href="itus-20151031.xsd#itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange_lbl" xml:lang="en-US">Net book value of converted debenture, accrued interest, derivative liability and warrant exchanged</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange" xlink:to="itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtConversionByUniqueDescriptionAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtConversionByUniqueDescriptionAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtConversionByUniqueDescriptionAxis_lbl" xml:lang="en-US">Debt Conversion Description [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionByUniqueDescriptionAxis" xlink:to="us-gaap_DebtConversionByUniqueDescriptionAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockIssuedFairValue" xlink:href="itus-20151031.xsd#itus_StockIssuedFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockIssuedFairValue_lbl" xml:lang="en-US">Fair value of 100,800 shares of common stock issued, net (739,958 shares of Conversion Common Stock issued, less 639,158 shares exchanged for 3,500 shares of Series A Convertible Preferred Stock)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedFairValue" xlink:to="itus_StockIssuedFairValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConversionOfStockNewIssuance" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConversionOfStockNewIssuance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConversionOfStockNewIssuance_lbl" xml:lang="en-US">Common Stock issued on Conversion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockNewIssuance" xlink:to="us-gaap_ConversionOfStockNewIssuance_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_SecuritiesIssuedInConversionExchangeShares" xlink:href="itus-20151031.xsd#itus_SecuritiesIssuedInConversionExchangeShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_SecuritiesIssuedInConversionExchangeShares_lbl" xml:lang="en-US">Less: Shares exchnaged for Series A Convertible Preferred Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SecuritiesIssuedInConversionExchangeShares" xlink:to="itus_SecuritiesIssuedInConversionExchangeShares_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_FairValueConvertiblePreferredStock" xlink:href="itus-20151031.xsd#itus_FairValueConvertiblePreferredStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_FairValueConvertiblePreferredStock_lbl" xml:lang="en-US">Fair value of 3,500 shares of Series A Convertible Preferred Stock (based on a stated value per share of $1,000 and a conversion rate of $4.73)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FairValueConvertiblePreferredStock" xlink:to="itus_FairValueConvertiblePreferredStock_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue" xlink:href="itus-20151031.xsd#itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue_lbl" xml:lang="en-US">Preferred Stock, Stated value (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue" xlink:to="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue_lbl0" xml:lang="en-US">Convertible Preferred Stock, Shares Converted, Initial Stated Value (in Dollars per share) (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue" xlink:to="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertiblePreferredStockInitialConversionPrice" xlink:href="itus-20151031.xsd#itus_ConvertiblePreferredStockInitialConversionPrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConvertiblePreferredStockInitialConversionPrice_lbl" xml:lang="en-US">Preferred Stock, Conversion Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockInitialConversionPrice" xlink:to="itus_ConvertiblePreferredStockInitialConversionPrice_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConvertiblePreferredStockInitialConversionPrice_lbl0" xml:lang="en-US">Convertible Preferred Stock, Initial Conversion Price (in Dollars per share) (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockInitialConversionPrice" xlink:to="itus_ConvertiblePreferredStockInitialConversionPrice_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_WarrantIssuedFairValue" xlink:href="itus-20151031.xsd#itus_WarrantIssuedFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_WarrantIssuedFairValue_lbl" xml:lang="en-US">Fair value of warrant issued September 9, 2014</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_WarrantIssuedFairValue" xlink:to="itus_WarrantIssuedFairValue_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_SecuritiesIssuedInValue" xlink:href="itus-20151031.xsd#itus_SecuritiesIssuedInValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_SecuritiesIssuedInValue_lbl" xml:lang="en-US">Subtotal of securities issued in conversion/exchange</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SecuritiesIssuedInValue" xlink:to="itus_SecuritiesIssuedInValue_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_GainLossOnSharesConversion" xlink:href="itus-20151031.xsd#itus_GainLossOnSharesConversion"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_GainLossOnSharesConversion_lbl" xml:lang="en-US">(Loss) on conversion/exchange</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_GainLossOnSharesConversion" xlink:to="itus_GainLossOnSharesConversion_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_A8ConvertibleDebentureMember" xlink:href="itus-20151031.xsd#itus_A8ConvertibleDebentureMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_A8ConvertibleDebentureMember_lbl" xml:lang="en-US">8% Convertible Debenture [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_A8ConvertibleDebentureMember" xlink:to="itus_A8ConvertibleDebentureMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_DerivativeConversionFeatureIntrinsicValue" xlink:href="itus-20151031.xsd#itus_DerivativeConversionFeatureIntrinsicValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DerivativeConversionFeatureIntrinsicValue_lbl" xml:lang="en-US">Intrinsic value of the derivative conversion feature</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DerivativeConversionFeatureIntrinsicValue" xlink:to="itus_DerivativeConversionFeatureIntrinsicValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquityNoteAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteAbstract_lbl" xml:lang="en-US">Stockholders&apos; Equity Note [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteAbstract" xlink:to="us-gaap_StockholdersEquityNoteAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_InformationRegardingThe2003And2010SharePlanAbstract" xlink:href="itus-20151031.xsd#itus_InformationRegardingThe2003And2010SharePlanAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_InformationRegardingThe2003And2010SharePlanAbstract_lbl" xml:lang="en-US">Information regarding the 2003 and 2010 Share Plan [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_InformationRegardingThe2003And2010SharePlanAbstract" xlink:to="itus_InformationRegardingThe2003And2010SharePlanAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PlanNameAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PlanNameAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PlanNameAxis_lbl" xml:lang="en-US">Plan Name [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameAxis" xlink:to="us-gaap_PlanNameAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_P2003SharePlanMember" xlink:href="itus-20151031.xsd#itus_P2003SharePlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_P2003SharePlanMember_lbl" xml:lang="en-US">2003 Share Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_P2003SharePlanMember" xlink:to="itus_P2003SharePlanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Options Outstanding, Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl0" xml:lang="en-US">Options Outstanding, Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl1" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Options Outstanding, Weighted Average Exercise Price Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Options Outstanding, Weighted Average Exercise Price Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl1" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Options Exercised, Weighted Average Exercise Price Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_lbl" xml:lang="en-US">Options Forfeited, Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Options Forfeited, Weighted Average Exercise Price Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber" xlink:href="itus-20151031.xsd#itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl" xml:lang="en-US">Options Outstanding and Exercisable at October 31, 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice" xlink:href="itus-20151031.xsd#itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US">Options Outstanding and Exercisable at October 31, 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" xlink:href="itus-20151031.xsd#itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl" xml:lang="en-US">Options Outstanding and Exercisable at October 31, 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_P2010SharePlanMember" xlink:href="itus-20151031.xsd#itus_P2010SharePlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_P2010SharePlanMember_lbl" xml:lang="en-US">2010 Share Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_P2010SharePlanMember" xlink:to="itus_P2010SharePlanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US">Options Granted, Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Options Granted, Weighted Average Exercise Price Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xml:lang="en-US">Options Outstanding, Aggregate Intrinsic Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US">Options Exercisable at October 31, 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US">Options Exercisable at October 31, 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" xml:lang="en-US">Options Exercisable at October 31, 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract" xlink:href="itus-20151031.xsd#itus_StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract_lbl" xml:lang="en-US">Stock options outstanding and exercisable under 2003 share plan [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract" xlink:to="itus_StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis_lbl" xml:lang="en-US">Exercise Price Range [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices179To925Member" xlink:href="itus-20151031.xsd#itus_RangeOfExercisePrices179To925Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RangeOfExercisePrices179To925Member_lbl" xml:lang="en-US">Range Of Exercise Prices $1.79 To $9.25 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices179To925Member" xlink:to="itus_RangeOfExercisePrices179To925Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl" xml:lang="en-US">Options Outstanding, Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl0" xml:lang="en-US">Options Outstanding, Shares</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2"/>
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    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices1875To2300Member" xlink:href="itus-20151031.xsd#itus_RangeOfExercisePrices1875To2300Member"/>
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    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices258To925Member" xlink:href="itus-20151031.xsd#itus_RangeOfExercisePrices258To925Member"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_lbl" xml:lang="en-US">Options Exercisable,Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" xlink:href="itus-20151031.xsd#itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember"/>
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    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices258To556Member" xlink:href="itus-20151031.xsd#itus_RangeOfExercisePrices258To556Member"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices258To556Member" xlink:to="itus_RangeOfExercisePrices258To556Member_lbl"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:to="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability" xlink:to="us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_TheTaxEffectsOfTemporaryDifferencesOfTheDeferredTaxAbstract" xlink:href="itus-20151031.xsd#itus_TheTaxEffectsOfTemporaryDifferencesOfTheDeferredTaxAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_TheTaxEffectsOfTemporaryDifferencesOfTheDeferredTaxAbstract_lbl" xml:lang="en-US">The tax effects of temporary differences of the deferred tax [Abstract]</label>
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    <loc xlink:type="locator" xlink:label="itus_FederalAndStateNOLAndTaxCreditCarryforwards" xlink:href="itus-20151031.xsd#itus_FederalAndStateNOLAndTaxCreditCarryforwards"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_FederalAndStateNOLAndTaxCreditCarryforwards_lbl" xml:lang="en-US">Federal and state NOL and tax credit carryforwards</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FederalAndStateNOLAndTaxCreditCarryforwards" xlink:to="itus_FederalAndStateNOLAndTaxCreditCarryforwards_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:to="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredTaxAssetsGoodwillAndIntangibleAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsGoodwillAndIntangibleAssets"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance"/>
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    <loc xlink:type="locator" xlink:label="itus_ReconciliationOfIncomeTaxesAtTheFederalStatutoryTaxRateAbstract" xlink:href="itus-20151031.xsd#itus_ReconciliationOfIncomeTaxesAtTheFederalStatutoryTaxRateAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ReconciliationOfIncomeTaxesAtTheFederalStatutoryTaxRateAbstract_lbl" xml:lang="en-US">Reconciliation of income taxes at the Federal statutory tax rate [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ReconciliationOfIncomeTaxesAtTheFederalStatutoryTaxRateAbstract" xlink:to="itus_ReconciliationOfIncomeTaxesAtTheFederalStatutoryTaxRateAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Income tax benefit at U.S. Federal statutory income Tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Income tax benefit at U.S. Federal statutory income Tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl0" xml:lang="en-US">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl" xml:lang="en-US">State income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:to="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_lbl" xml:lang="en-US">State income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_lbl" xml:lang="en-US">Permanent differences</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential" xlink:to="us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_lbl" xml:lang="en-US">Permanent differences</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther" xlink:href="itus-20151031.xsd#itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther_lbl" xml:lang="en-US">Expiring net operating losses, credits and other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther" xlink:to="itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits_lbl" xml:lang="en-US">Expiring net operating losses, credits and other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses_lbl" xml:lang="en-US">Foreign rate difference on impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses" xlink:to="us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses_lbl" xml:lang="en-US">Foreign rate difference on impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_lbl" xml:lang="en-US">Change in valuation allowance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_lbl" xml:lang="en-US">Change in valuation allowance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xml:lang="en-US">Income tax provision</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:to="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl0" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Percent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:to="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US">ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsCurrentAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US">Current assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrentAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Current liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquityAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Shareholders&#8217; equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RevenuesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenuesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">Revenue:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingCostsAndExpensesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingCostsAndExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingCostsAndExpensesAbstract_lbl" xml:lang="en-US">Operating costs and expenses:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingCostsAndExpensesAbstract" xlink:to="us-gaap_OperatingCostsAndExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerShareAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">Net loss per share:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xml:lang="en-US">Weighted average common shares outstanding:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ReconciliationOfNetLossToNetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="itus-20151031.xsd#itus_ReconciliationOfNetLossToNetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ReconciliationOfNetLossToNetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Reconciliation of net loss to net cash provided by (used in) operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ReconciliationOfNetLossToNetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="itus_ReconciliationOfNetLossToNetCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:href="itus-20151031.xsd#itus_ChangeInOperatingAssetsAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Change in operating assets and liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:to="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CashFlowsFromInvestingActivitiesAbstract" xlink:href="itus-20151031.xsd#itus_CashFlowsFromInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CashFlowsFromInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CashFlowsFromInvestingActivitiesAbstract" xlink:to="itus_CashFlowsFromInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CashFlowsFromFinancingActivitiesAbstract" xlink:href="itus-20151031.xsd#itus_CashFlowsFromFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CashFlowsFromFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CashFlowsFromFinancingActivitiesAbstract" xlink:to="itus_CashFlowsFromFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_SupplementalDisclosureOfNonCashInvestingAndFinancingActivitiesAbstract" xlink:href="itus-20151031.xsd#itus_SupplementalDisclosureOfNonCashInvestingAndFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_SupplementalDisclosureOfNonCashInvestingAndFinancingActivitiesAbstract_lbl" xml:lang="en-US">Supplemental disclosure of non-cash investing and financing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SupplementalDisclosureOfNonCashInvestingAndFinancingActivitiesAbstract" xlink:to="itus_SupplementalDisclosureOfNonCashInvestingAndFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" xlink:to="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Significant Accounting Policies [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US">Scenario [Axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_AUOLicenseAgreementMember_lbl" xml:lang="en-US">AUO License Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AUOLicenseAgreementMember" xlink:to="itus_AUOLicenseAgreementMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PatentsMember_lbl" xml:lang="en-US">Patents [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_StockAwardGrantedToEmployeesAndConsultantsMember_lbl" xml:lang="en-US">Stock Award Granted To Employees And Consultants [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockAwardGrantedToEmployeesAndConsultantsMember" xlink:to="itus_StockAwardGrantedToEmployeesAndConsultantsMember_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockOptionsGrantedToEmployeesAndDirectorsMember" xlink:to="itus_StockOptionsGrantedToEmployeesAndDirectorsMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AwardTypeAxis_lbl" xml:lang="en-US">Award Type [Axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_AwardsOfOptionsWith10YearTermsMember_lbl" xml:lang="en-US">Awards Of Options With 10 Year Terms [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AwardsOfOptionsWith10YearTermsMember" xlink:to="itus_AwardsOfOptionsWith10YearTermsMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeStockOptionMember_lbl" xml:lang="en-US">Employee Stock Option [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeStockOptionMember" xlink:to="us-gaap_EmployeeStockOptionMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_lbl" xml:lang="en-US">Antidilutive Securities [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WarrantMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WarrantMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WarrantMember_lbl" xml:lang="en-US">Warrant [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantMember" xlink:to="us-gaap_WarrantMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xml:lang="en-US">Concentration Risk Benchmark [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesRevenueNetMember_lbl" xml:lang="en-US">Sales Revenue, Net [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNetMember" xlink:to="us-gaap_SalesRevenueNetMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskByTypeAxis_lbl" xml:lang="en-US">Concentration Risk Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByTypeAxis" xlink:to="us-gaap_ConcentrationRiskByTypeAxis_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CustomerConcentrationRiskMember_lbl" xml:lang="en-US">Customer Concentration Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerConcentrationRiskMember" xlink:to="us-gaap_CustomerConcentrationRiskMember_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_Licensees1Member" xlink:to="itus_Licensees1Member_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_Licensees2Member" xlink:to="itus_Licensees2Member_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_Licensees3Member" xlink:to="itus_Licensees3Member_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_Licensees4Member" xlink:to="itus_Licensees4Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EquitySecuritiesByInvestmentObjectiveAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquitySecuritiesByInvestmentObjectiveAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquitySecuritiesByInvestmentObjectiveAxis_lbl" xml:lang="en-US">Equity Securities by Investment Objective [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquitySecuritiesByInvestmentObjectiveAxis" xlink:to="us-gaap_EquitySecuritiesByInvestmentObjectiveAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ManagementMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ManagementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ManagementMember_lbl" xml:lang="en-US">Management [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementMember" xlink:to="us-gaap_ManagementMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ClassOfWarrantOrRightAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassOfWarrantOrRightAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfWarrantOrRightAxis_lbl" xml:lang="en-US">Class of Warrant or Right [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightAxis" xlink:to="us-gaap_ClassOfWarrantOrRightAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleDebentureWithoutConversionFeaturesMember" xlink:href="itus-20151031.xsd#itus_ConvertibleDebentureWithoutConversionFeaturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConvertibleDebentureWithoutConversionFeaturesMember_lbl" xml:lang="en-US">Convertible Debenture Without Conversion Features [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebentureWithoutConversionFeaturesMember" xlink:to="itus_ConvertibleDebentureWithoutConversionFeaturesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_PlacementAgentWarrantMember" xlink:href="itus-20151031.xsd#itus_PlacementAgentWarrantMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_PlacementAgentWarrantMember_lbl" xml:lang="en-US">Placement Agent Warrant [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PlacementAgentWarrantMember" xlink:to="itus_PlacementAgentWarrantMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConsultantMember" xlink:href="itus-20151031.xsd#itus_ConsultantMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ConsultantMember_lbl" xml:lang="en-US">Consultant [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConsultantMember" xlink:to="itus_ConsultantMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_A2010SharePlanAmendmendMember" xlink:href="itus-20151031.xsd#itus_A2010SharePlanAmendmendMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_A2010SharePlanAmendmendMember_lbl" xml:lang="en-US">2010 Share Plan Amendmend [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_A2010SharePlanAmendmendMember" xlink:to="itus_A2010SharePlanAmendmendMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_NonEmployeeDirectorMember" xlink:href="itus-20151031.xsd#itus_NonEmployeeDirectorMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_NonEmployeeDirectorMember_lbl" xml:lang="en-US">Non Employee Director [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_NonEmployeeDirectorMember" xlink:to="itus_NonEmployeeDirectorMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BoardOfDirectorsChairmanMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BoardOfDirectorsChairmanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BoardOfDirectorsChairmanMember_lbl" xml:lang="en-US">Board of Directors Chairman [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BoardOfDirectorsChairmanMember" xlink:to="us-gaap_BoardOfDirectorsChairmanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_PresidentAndChiefExecutiveOfficerMember" xlink:href="itus-20151031.xsd#itus_PresidentAndChiefExecutiveOfficerMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_PresidentAndChiefExecutiveOfficerMember_lbl" xml:lang="en-US">President and Chief Executive Officer [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PresidentAndChiefExecutiveOfficerMember" xlink:to="itus_PresidentAndChiefExecutiveOfficerMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_SeniorVicePresidentOfEngineeringMember" xlink:href="itus-20151031.xsd#itus_SeniorVicePresidentOfEngineeringMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_SeniorVicePresidentOfEngineeringMember_lbl" xml:lang="en-US">Senior Vice President of Engineering [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SeniorVicePresidentOfEngineeringMember" xlink:to="itus_SeniorVicePresidentOfEngineeringMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StrategicAdvisorMember" xlink:href="itus-20151031.xsd#itus_StrategicAdvisorMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_StrategicAdvisorMember_lbl" xml:lang="en-US">Strategic Advisor [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StrategicAdvisorMember" xlink:to="itus_StrategicAdvisorMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_NonqualifiedStockOptionMember" xlink:href="itus-20151031.xsd#itus_NonqualifiedStockOptionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_NonqualifiedStockOptionMember_lbl" xml:lang="en-US">Nonqualified Stock Option [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_NonqualifiedStockOptionMember" xlink:to="itus_NonqualifiedStockOptionMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ChairmansCompensationMember" xlink:href="itus-20151031.xsd#itus_ChairmansCompensationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ChairmansCompensationMember_lbl" xml:lang="en-US">Chairmans Compensation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ChairmansCompensationMember" xlink:to="itus_ChairmansCompensationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_DirectorsAdditionalCompensationServiceMember" xlink:href="itus-20151031.xsd#itus_DirectorsAdditionalCompensationServiceMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_DirectorsAdditionalCompensationServiceMember_lbl" xml:lang="en-US">Directors Additional Compensation Service [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DirectorsAdditionalCompensationServiceMember" xlink:to="itus_DirectorsAdditionalCompensationServiceMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_OutsideDirectorsMember" xlink:href="itus-20151031.xsd#itus_OutsideDirectorsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_OutsideDirectorsMember_lbl" xml:lang="en-US">Outside Directors [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_OutsideDirectorsMember" xlink:to="itus_OutsideDirectorsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ThreeOutsideDirectorsMember" xlink:href="itus-20151031.xsd#itus_ThreeOutsideDirectorsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ThreeOutsideDirectorsMember_lbl" xml:lang="en-US">Three Outside Directors [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ThreeOutsideDirectorsMember" xlink:to="itus_ThreeOutsideDirectorsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RePricedOptionsMember" xlink:href="itus-20151031.xsd#itus_RePricedOptionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RePricedOptionsMember_lbl" xml:lang="en-US">Re-Priced Options [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RePricedOptionsMember" xlink:to="itus_RePricedOptionsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis_lbl" xml:lang="en-US">Property Subject to or Available for Operating Lease [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis" xlink:to="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyAvailableForOperatingLeaseMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyAvailableForOperatingLeaseMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyAvailableForOperatingLeaseMember_lbl" xml:lang="en-US">Property Available for Operating Lease [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyAvailableForOperatingLeaseMember" xlink:to="us-gaap_PropertyAvailableForOperatingLeaseMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementGeographicalAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementGeographicalAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementGeographicalAxis_lbl" xml:lang="en-US">Geographical [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementGeographicalAxis" xlink:to="us-gaap_StatementGeographicalAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_LosAngelesCaliforniaMember" xlink:href="itus-20151031.xsd#itus_LosAngelesCaliforniaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_LosAngelesCaliforniaMember_lbl" xml:lang="en-US">Los Angeles California [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LosAngelesCaliforniaMember" xlink:to="itus_LosAngelesCaliforniaMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxAuthorityAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxAuthorityAxis_lbl" xml:lang="en-US">Income Tax Authority [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxAuthorityAxis" xlink:to="us-gaap_IncomeTaxAuthorityAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_FederalCorporateTaxableMember" xlink:href="itus-20151031.xsd#itus_FederalCorporateTaxableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_FederalCorporateTaxableMember_lbl" xml:lang="en-US">Federal Corporate Taxable [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FederalCorporateTaxableMember" xlink:to="itus_FederalCorporateTaxableMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_NewYorkStateMember" xlink:href="itus-20151031.xsd#itus_NewYorkStateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_NewYorkStateMember_lbl" xml:lang="en-US">New York State [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_NewYorkStateMember" xlink:to="itus_NewYorkStateMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CaliforniaStateMember" xlink:href="itus-20151031.xsd#itus_CaliforniaStateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_CaliforniaStateMember_lbl" xml:lang="en-US">California State [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CaliforniaStateMember" xlink:to="itus_CaliforniaStateMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromLegalSettlements" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromLegalSettlements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromLegalSettlements_lbl" xml:lang="en-US">Proceeds from Legal Settlements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLegalSettlements" xlink:to="us-gaap_ProceedsFromLegalSettlements_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LegalFees" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LegalFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LegalFees_lbl" xml:lang="en-US">Legal Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LegalFees" xlink:to="us-gaap_LegalFees_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtOfSubsidiaryNotAssumed" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtOfSubsidiaryNotAssumed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtOfSubsidiaryNotAssumed_lbl" xml:lang="en-US">Debt of Subsidiary, Not Assumed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtOfSubsidiaryNotAssumed" xlink:to="us-gaap_DebtOfSubsidiaryNotAssumed_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_lbl" xml:lang="en-US">Sale of Stock, Number of Shares Issued in Transaction (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:to="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US">Stock Issued During Period, Shares, New Issues (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl0" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPrivatePlacement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl" xml:lang="en-US">Proceeds from Issuance of Private Placement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:to="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConversionOfStockSharesConverted1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConversionOfStockSharesConverted1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConversionOfStockSharesConverted1_lbl" xml:lang="en-US">Conversion of Stock, Shares Converted (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesConverted1" xlink:to="us-gaap_ConversionOfStockSharesConverted1_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SaleOfStockPricePerShare" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleOfStockPricePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockPricePerShare_lbl" xml:lang="en-US">Sale of Stock, Price Per Share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockPricePerShare" xlink:to="us-gaap_SaleOfStockPricePerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments" xlink:to="us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockRepurchasedDuringPeriodShares" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedDuringPeriodShares_lbl" xml:lang="en-US">Stock Repurchased During Period, Shares (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedDuringPeriodShares" xlink:to="us-gaap_StockRepurchasedDuringPeriodShares_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashPeriodIncreaseDecrease" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashPeriodIncreaseDecrease_lbl" xml:lang="en-US">Cash, Period Increase (Decrease)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashPeriodIncreaseDecrease" xlink:to="us-gaap_CashPeriodIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashCashEquivalentsAndShortTermInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashCashEquivalentsAndShortTermInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsAndShortTermInvestments_lbl" xml:lang="en-US">Cash, Cash Equivalents, and Short-term Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsAndShortTermInvestments" xlink:to="us-gaap_CashCashEquivalentsAndShortTermInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_LicenseAgreementAggregateLicenseFee" xlink:href="itus-20151031.xsd#itus_LicenseAgreementAggregateLicenseFee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_LicenseAgreementAggregateLicenseFee_lbl" xml:lang="en-US">License Agreement, Aggregate License Fee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LicenseAgreementAggregateLicenseFee" xlink:to="itus_LicenseAgreementAggregateLicenseFee_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_LicenseAgreementContingentLicenseFeeReceivable" xlink:href="itus-20151031.xsd#itus_LicenseAgreementContingentLicenseFeeReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_LicenseAgreementContingentLicenseFeeReceivable_lbl" xml:lang="en-US">License Agreement, Contingent License Fee, Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LicenseAgreementContingentLicenseFeeReceivable" xlink:to="itus_LicenseAgreementContingentLicenseFeeReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredRevenueCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US">Deferred Revenue, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="us-gaap_DeferredRevenueCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AcquisitionCosts" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcquisitionCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AcquisitionCosts_lbl" xml:lang="en-US">Acquisition Costs, Period Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AcquisitionCosts" xlink:to="us-gaap_AcquisitionCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AmortizationOfAcquisitionCosts" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfAcquisitionCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfAcquisitionCosts_lbl" xml:lang="en-US">Amortization of Acquisition Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfAcquisitionCosts" xlink:to="us-gaap_AmortizationOfAcquisitionCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensation" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based Compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl0" xml:lang="en-US">Share-based Compensation (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_AmortizationRelatedToCompensationCost" xlink:href="itus-20151031.xsd#itus_AmortizationRelatedToCompensationCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AmortizationRelatedToCompensationCost_lbl" xml:lang="en-US">Amortization Related To Compensation Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AmortizationRelatedToCompensationCost" xlink:to="itus_AmortizationRelatedToCompensationCost_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xml:lang="en-US">Property, Plant and Equipment, Useful Life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription" xlink:href="itus-20151031.xsd#itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_ConcentrationRiskPercentage1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConcentrationRiskPercentage1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xml:lang="en-US">Concentration Risk, Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskPercentage1" xlink:to="us-gaap_ConcentrationRiskPercentage1_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CertificatesOfDepositAtCarryingValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CertificatesOfDepositAtCarryingValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CertificatesOfDepositAtCarryingValue_lbl" xml:lang="en-US">Certificates of Deposit, at Carrying Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CertificatesOfDepositAtCarryingValue" xlink:to="us-gaap_CertificatesOfDepositAtCarryingValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AvailableForSaleEquitySecuritiesAmortizedCostBasis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AvailableForSaleEquitySecuritiesAmortizedCostBasis"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleEquitySecuritiesAmortizedCostBasis" xlink:to="us-gaap_AvailableForSaleEquitySecuritiesAmortizedCostBasis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment"/>
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    <loc xlink:type="locator" xlink:label="itus_SharesExchangedForGDR" xlink:href="itus-20151031.xsd#itus_SharesExchangedForGDR"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_SharesExchangedForGDR_lbl" xml:lang="en-US">Shares Exchanged for GDR (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SharesExchangedForGDR" xlink:to="itus_SharesExchangedForGDR_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld_lbl" xml:lang="en-US">Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld" xlink:to="us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentConvertibleStockPriceTrigger" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentConvertibleStockPriceTrigger"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleStockPriceTrigger_lbl" xml:lang="en-US">Debt Instrument, Convertible, Stock Price Trigger (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleStockPriceTrigger" xlink:to="us-gaap_DebtInstrumentConvertibleStockPriceTrigger_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DebtInstrumentConvertibleThresholdTradingDays" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentConvertibleThresholdTradingDays"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleThresholdTradingDays_lbl" xml:lang="en-US">Debt Instrument, Convertible, Threshold Trading Days</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleThresholdTradingDays" xlink:to="us-gaap_DebtInstrumentConvertibleThresholdTradingDays_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_DebtInstrumentPrepaymentNoticePeriod" xlink:href="itus-20151031.xsd#itus_DebtInstrumentPrepaymentNoticePeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DebtInstrumentPrepaymentNoticePeriod_lbl" xml:lang="en-US">Debt Instrument Prepayment Notice Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentPrepaymentNoticePeriod" xlink:to="itus_DebtInstrumentPrepaymentNoticePeriod_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DebtInstrumentPrepaymentThresholdTradingDays_lbl" xml:lang="en-US">Debt Instrument Prepayment Threshold Trading Days</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentPrepaymentThresholdTradingDays" xlink:to="itus_DebtInstrumentPrepaymentThresholdTradingDays_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice" xlink:href="itus-20151031.xsd#itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice_lbl" xml:lang="en-US">Debt Instrument Prepayment Threshold Trading Days Ending Prior To Prepayment Notice</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice" xlink:to="itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight" xlink:to="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" xlink:to="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConvertibleDebtFairValueDisclosures" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConvertibleDebtFairValueDisclosures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConvertibleDebtFairValueDisclosures_lbl" xml:lang="en-US">Convertible Debt, Fair Value Disclosures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertibleDebtFairValueDisclosures" xlink:to="us-gaap_ConvertibleDebtFairValueDisclosures_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue" xlink:href="itus-20151031.xsd#itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue_lbl" xml:lang="en-US">Convertible Debt Instrument Including Embedded Derivative Relative Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue" xlink:to="itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_DerivativeLiabilityAndWarrant" xlink:href="itus-20151031.xsd#itus_DerivativeLiabilityAndWarrant"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DerivativeLiabilityAndWarrant_lbl" xml:lang="en-US">Derivative Liability and Warrant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DerivativeLiabilityAndWarrant" xlink:to="itus_DerivativeLiabilityAndWarrant_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsDiscountRate" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsDiscountRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsDiscountRate_lbl" xml:lang="en-US">Fair Value Inputs, Discount Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsDiscountRate" xlink:to="us-gaap_FairValueInputsDiscountRate_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CashFeeCompensationPlacementAgent" xlink:href="itus-20151031.xsd#itus_CashFeeCompensationPlacementAgent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CashFeeCompensationPlacementAgent_lbl" xml:lang="en-US">Cash Fee Compensation Placement Agent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CashFeeCompensationPlacementAgent" xlink:to="itus_CashFeeCompensationPlacementAgent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DerivativeLiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeLiabilitiesCurrent_lbl" xml:lang="en-US">Derivative Liability, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilitiesCurrent" xlink:to="us-gaap_DerivativeLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal" xlink:href="itus-20151031.xsd#itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal_lbl" xml:lang="en-US">Debt Instrument Convertible Number Of Equity Instruments For Principal (in Shares) (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal" xlink:to="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest" xlink:href="itus-20151031.xsd#itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest_lbl" xml:lang="en-US">Debt Instrument Convertible Number Of Equity Instruments For Interest (in Shares) (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest" xlink:to="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_DebtConversionConvertedInstrumentAdditionalSharesIssued" xlink:href="itus-20151031.xsd#itus_DebtConversionConvertedInstrumentAdditionalSharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DebtConversionConvertedInstrumentAdditionalSharesIssued_lbl" xml:lang="en-US">Debt Conversion Converted Instrument Additional Shares Issued (in Shares) (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtConversionConvertedInstrumentAdditionalSharesIssued" xlink:to="itus_DebtConversionConvertedInstrumentAdditionalSharesIssued_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConversionOfStockSharesIssued1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConversionOfStockSharesIssued1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConversionOfStockSharesIssued1_lbl" xml:lang="en-US">Conversion of Stock, Shares Issued (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesIssued1" xlink:to="us-gaap_ConversionOfStockSharesIssued1_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RetirementAndCancellationOfShares" xlink:href="itus-20151031.xsd#itus_RetirementAndCancellationOfShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RetirementAndCancellationOfShares_lbl" xml:lang="en-US">Retirement and Cancellation Of Shares (in Shares) (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RetirementAndCancellationOfShares" xlink:to="itus_RetirementAndCancellationOfShares_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_EquityInstrumentConvertibleConversionPrice" xlink:href="itus-20151031.xsd#itus_EquityInstrumentConvertibleConversionPrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_EquityInstrumentConvertibleConversionPrice_lbl" xml:lang="en-US">Equity Instrument, Convertible, Conversion Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_EquityInstrumentConvertibleConversionPrice" xlink:to="itus_EquityInstrumentConvertibleConversionPrice_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DerivativeFairValueOfDerivativeNet" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeFairValueOfDerivativeNet_lbl" xml:lang="en-US">Derivative, Fair Value, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeFairValueOfDerivativeNet" xlink:to="us-gaap_DerivativeFairValueOfDerivativeNet_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ClassOfWarrantOrRightExpirationPeriod" xlink:href="itus-20151031.xsd#itus_ClassOfWarrantOrRightExpirationPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ClassOfWarrantOrRightExpirationPeriod_lbl" xml:lang="en-US">Class of Warrant or Right, Expiration Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ClassOfWarrantOrRightExpirationPeriod" xlink:to="itus_ClassOfWarrantOrRightExpirationPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CancellationOfWarrantsExercisePrice" xlink:href="itus-20151031.xsd#itus_CancellationOfWarrantsExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CancellationOfWarrantsExercisePrice_lbl" xml:lang="en-US">Cancellation of Warrants, Exercise Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CancellationOfWarrantsExercisePrice" xlink:to="itus_CancellationOfWarrantsExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConsultationFeesRelatedToOptions" xlink:href="itus-20151031.xsd#itus_ConsultationFeesRelatedToOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConsultationFeesRelatedToOptions_lbl" xml:lang="en-US">Consultation Fees Related To Options (in Dollars) (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConsultationFeesRelatedToOptions" xlink:to="itus_ConsultationFeesRelatedToOptions_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherShareIncreaseDecrease" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherShareIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherShareIncreaseDecrease_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Other Share Increase (Decrease)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherShareIncreaseDecrease" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherShareIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CommonStockAntidilutionThresholdPrice" xlink:href="itus-20151031.xsd#itus_CommonStockAntidilutionThresholdPrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CommonStockAntidilutionThresholdPrice_lbl" xml:lang="en-US">Common Stock, Anti-dilution Threshold Price (in Dollars per share) (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CommonStockAntidilutionThresholdPrice" xlink:to="itus_CommonStockAntidilutionThresholdPrice_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CommonStockSharesOutstandingMaximumOwnershipPercentage" xlink:href="itus-20151031.xsd#itus_CommonStockSharesOutstandingMaximumOwnershipPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CommonStockSharesOutstandingMaximumOwnershipPercentage_lbl" xml:lang="en-US">Common Stock, Shares Outstanding, Maximum Ownership Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CommonStockSharesOutstandingMaximumOwnershipPercentage" xlink:to="itus_CommonStockSharesOutstandingMaximumOwnershipPercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod" xlink:href="itus-20151031.xsd#itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod_lbl" xml:lang="en-US">Convertible Preferred Stock, Mandatory Conversion, Measurment Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod" xlink:to="itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage" xlink:href="itus-20151031.xsd#itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage_lbl" xml:lang="en-US">Convertible Preferred Stock,Mandatory Conversion, Threshold Trading Volume Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage" xlink:to="itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertiblePreferredStockRedemptionNoticePeriod" xlink:href="itus-20151031.xsd#itus_ConvertiblePreferredStockRedemptionNoticePeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConvertiblePreferredStockRedemptionNoticePeriod_lbl" xml:lang="en-US">Convertible Preferred Stock Redemption, Notice Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockRedemptionNoticePeriod" xlink:to="itus_ConvertiblePreferredStockRedemptionNoticePeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConertiblePreferredStockObserverDesignationNoticePeriod" xlink:href="itus-20151031.xsd#itus_ConertiblePreferredStockObserverDesignationNoticePeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConertiblePreferredStockObserverDesignationNoticePeriod_lbl" xml:lang="en-US">Conertible Preferred Stock, Observer Designation, Notice Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConertiblePreferredStockObserverDesignationNoticePeriod" xlink:to="itus_ConertiblePreferredStockObserverDesignationNoticePeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_PatentAcquisitionObligationsDiscountedPresentValue" xlink:href="itus-20151031.xsd#itus_PatentAcquisitionObligationsDiscountedPresentValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_PatentAcquisitionObligationsDiscountedPresentValue_lbl" xml:lang="en-US">Patent Acquisition Obligations Discounted, Present Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PatentAcquisitionObligationsDiscountedPresentValue" xlink:to="itus_PatentAcquisitionObligationsDiscountedPresentValue_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_InterestExpensePatentAcquisitionObligations" xlink:href="itus-20151031.xsd#itus_InterestExpensePatentAcquisitionObligations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_InterestExpensePatentAcquisitionObligations_lbl" xml:lang="en-US">Interest Expense, Patent Acquisition Obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_InterestExpensePatentAcquisitionObligations" xlink:to="itus_InterestExpensePatentAcquisitionObligations_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AreaOfLand" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfLand"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AreaOfLand_lbl" xml:lang="en-US">Area of Land (in Square Meters)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfLand" xlink:to="us-gaap_AreaOfLand_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LeaseAndRentalExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeaseAndRentalExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseAndRentalExpense_lbl" xml:lang="en-US">Operating Leases, Rent Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAndRentalExpense" xlink:to="us-gaap_LeaseAndRentalExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLossCarryforwards" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLossCarryforwards"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLossCarryforwards_lbl" xml:lang="en-US">Operating Loss Carryforwards</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwards" xlink:to="us-gaap_OperatingLossCarryforwards_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_TaxCreditCarryforwardAmount" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TaxCreditCarryforwardAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TaxCreditCarryforwardAmount_lbl" xml:lang="en-US">Tax Credit Carryforward, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxCreditCarryforwardAmount" xlink:to="us-gaap_TaxCreditCarryforwardAmount_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange" xlink:href="itus-20151031.xsd#itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange_lbl" xml:lang="en-US">Operating Loss Carryforward and Tax Credit Carryforward Expiration, Date Range</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange" xlink:to="itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Basis of Presentation and Significant Accounting Policies [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xml:lang="en-US">Revenue Recognition, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xml:lang="en-US">Fair Value Measurement, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentPolicyTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentPolicyTextBlock_lbl" xml:lang="en-US">Investment, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentPolicyTextBlock" xlink:to="us-gaap_InvestmentPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IntangibleAssetsFiniteLivedPolicy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsFiniteLivedPolicy_lbl" xml:lang="en-US">Intangible Assets, Finite-Lived, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:to="us-gaap_IntangibleAssetsFiniteLivedPolicy_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_MarketableSecuritiesPolicy" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MarketableSecuritiesPolicy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketableSecuritiesPolicy_lbl" xml:lang="en-US">Marketable Securities, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketableSecuritiesPolicy" xlink:to="us-gaap_MarketableSecuritiesPolicy_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ConvertibleInstrumentPolicyTextBlock" xlink:href="itus-20151031.xsd#itus_ConvertibleInstrumentPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConvertibleInstrumentPolicyTextBlock_lbl" xml:lang="en-US">Convertible Instruments Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleInstrumentPolicyTextBlock" xlink:to="itus_ConvertibleInstrumentPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquityPolicyTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityPolicyTextBlock_lbl" xml:lang="en-US">Stockholders&apos; Equity, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityPolicyTextBlock" xlink:to="us-gaap_StockholdersEquityPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CompensationRelatedCostsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CompensationRelatedCostsPolicyTextBlock_lbl" xml:lang="en-US">Compensation Related Costs, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:to="us-gaap_CompensationRelatedCostsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl" xml:lang="en-US">Fair Value of Financial Instruments, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_UseOfEstimates" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UseOfEstimates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CONVERTIBLEDEBENTURESDetailsTable" xlink:to="itus_CONVERTIBLEDEBENTURESDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CONVERTIBLEDEBENTURESDetailsLineItems" xlink:href="itus-20151031.xsd#itus_CONVERTIBLEDEBENTURESDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CONVERTIBLEDEBENTURESDetailsLineItems_lbl" xml:lang="en-US">CONVERTIBLE DEBENTURES (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CONVERTIBLEDEBENTURESDetailsLineItems" xlink:to="itus_CONVERTIBLEDEBENTURESDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_SHAREHOLDERSEQUITYDetailsTable" xlink:href="itus-20151031.xsd#itus_SHAREHOLDERSEQUITYDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_SHAREHOLDERSEQUITYDetailsTable_lbl" xml:lang="en-US">SHAREHOLDERS&apos; EQUITY (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SHAREHOLDERSEQUITYDetailsTable" xlink:to="itus_SHAREHOLDERSEQUITYDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_SHAREHOLDERSEQUITYDetailsLineItems" xlink:href="itus-20151031.xsd#itus_SHAREHOLDERSEQUITYDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_SHAREHOLDERSEQUITYDetailsLineItems_lbl" xml:lang="en-US">SHAREHOLDERS&apos; EQUITY (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SHAREHOLDERSEQUITYDetailsLineItems" xlink:to="itus_SHAREHOLDERSEQUITYDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SegmentGeographicalDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SegmentGeographicalDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentGeographicalDomain_lbl" xml:lang="en-US">Geographical [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentGeographicalDomain" xlink:to="us-gaap_SegmentGeographicalDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain_lbl" xml:lang="en-US">Property Subject to or Available for Operating Lease [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain" xlink:to="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_COMMITMENTSANDCONTINGENCIESDetailsTable" xlink:href="itus-20151031.xsd#itus_COMMITMENTSANDCONTINGENCIESDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_COMMITMENTSANDCONTINGENCIESDetailsTable_lbl" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_COMMITMENTSANDCONTINGENCIESDetailsTable" xlink:to="itus_COMMITMENTSANDCONTINGENCIESDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_COMMITMENTSANDCONTINGENCIESDetailsLineItems" xlink:href="itus-20151031.xsd#itus_COMMITMENTSANDCONTINGENCIESDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_COMMITMENTSANDCONTINGENCIESDetailsLineItems_lbl" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_COMMITMENTSANDCONTINGENCIESDetailsLineItems" xlink:to="itus_COMMITMENTSANDCONTINGENCIESDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxAuthorityDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxAuthorityDomain_lbl" xml:lang="en-US">Income Tax Authority [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxAuthorityDomain" xlink:to="us-gaap_IncomeTaxAuthorityDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_INCOMETAXESDetailsTable" xlink:href="itus-20151031.xsd#itus_INCOMETAXESDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_INCOMETAXESDetailsTable_lbl" xml:lang="en-US">INCOME TAXES (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_INCOMETAXESDetailsTable" xlink:to="itus_INCOMETAXESDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_INCOMETAXESDetailsLineItems" xlink:href="itus-20151031.xsd#itus_INCOMETAXESDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_INCOMETAXESDetailsLineItems_lbl" xml:lang="en-US">INCOME TAXES (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_INCOMETAXESDetailsLineItems" xlink:to="itus_INCOMETAXESDetailsLineItems_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense_lbl1" xml:lang="en-US">Accretion of interest on patent acquisition obligations to interest expense.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" xlink:to="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants_lbl0" xml:lang="en-US">Repurchase of shares and canellation of warrants value adjusted to additional paid in capital (APIC).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants" xlink:to="itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_AmortizationRelatedToCompensationCost_lbl0" xml:lang="en-US">Amount of amortization related to compensation cost.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AmortizationRelatedToCompensationCost" xlink:to="itus_AmortizationRelatedToCompensationCost_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_CancellationOfLoanPayableToFormerAffiliate_lbl0" xml:lang="en-US">The value of loans payable to former affiliate cancelled in noncash investing or financing transactions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CancellationOfLoanPayableToFormerAffiliate" xlink:to="itus_CancellationOfLoanPayableToFormerAffiliate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_CancellationOfLoanReceivableFromFormerAffiliate_lbl0" xml:lang="en-US">The value of loans receivable to former affiliate cancelled in noncash investing or financing transactions.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CancellationOfLoanReceivableFromFormerAffiliate" xlink:to="itus_CancellationOfLoanReceivableFromFormerAffiliate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_CancellationOfWarrantsExercisePrice_lbl0" xml:lang="en-US">Exercise price per share or per unit of warrants cancellation during the period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CancellationOfWarrantsExercisePrice" xlink:to="itus_CancellationOfWarrantsExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_CashFeeCompensationPlacementAgent_lbl0" xml:lang="en-US">Cash fee compensation provided to the placement agent.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CashFeeCompensationPlacementAgent" xlink:to="itus_CashFeeCompensationPlacementAgent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ClassOfWarrantOrRightExpirationPeriod_lbl0" xml:lang="en-US">Expiration period of warrants or rights outstanding.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ClassOfWarrantOrRightExpirationPeriod" xlink:to="itus_ClassOfWarrantOrRightExpirationPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_CommonStockAntidilutionThresholdPrice_lbl0" xml:lang="en-US">The price per share, below which certain anti-dilution protection provision will be triggered.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CommonStockAntidilutionThresholdPrice" xlink:to="itus_CommonStockAntidilutionThresholdPrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_CommonStockIssuedToAcquirePatentLicense_lbl0" xml:lang="en-US">Common Stock Issued to acquire patent license.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CommonStockIssuedToAcquirePatentLicense" xlink:to="itus_CommonStockIssuedToAcquirePatentLicense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_CommonStockSharesOutstandingMaximumOwnershipPercentage_lbl0" xml:lang="en-US">Maximum percentage of common stock outstanding an individual can hold.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CommonStockSharesOutstandingMaximumOwnershipPercentage" xlink:to="itus_CommonStockSharesOutstandingMaximumOwnershipPercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConertiblePreferredStockObserverDesignationNoticePeriod_lbl0" xml:lang="en-US">Notice period the holder is required to deliver before it can designate an observer to observe meetings of the company&apos;s board, in &apos;PnYnMnDTnHnMnS&apos; format, for example, &apos;P1Y5M13D&apos; represents the reported fact of one year, five months, and thirteen days.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConertiblePreferredStockObserverDesignationNoticePeriod" xlink:to="itus_ConertiblePreferredStockObserverDesignationNoticePeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConsultationFeesRelatedToOptions_lbl0" xml:lang="en-US">Amount of consultation fees related to options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConsultationFeesRelatedToOptions" xlink:to="itus_ConsultationFeesRelatedToOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConvertibleDebtDiscount_lbl1" xml:lang="en-US">The amount of convertible debt discount that was originally recognized at the issuance of the instrument.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebtDiscount" xlink:to="itus_ConvertibleDebtDiscount_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue_lbl0" xml:lang="en-US">Convertible Debt Instrument Including Embedded Derivative Relative Fair Value.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue" xlink:to="itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConvertibleInstrumentPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for convertible instruments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertibleInstrumentPolicyTextBlock" xlink:to="itus_ConvertibleInstrumentPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConvertiblePreferredStockInitialConversionPrice_lbl1" xml:lang="en-US">Conversion price.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockInitialConversionPrice" xlink:to="itus_ConvertiblePreferredStockInitialConversionPrice_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod_lbl0" xml:lang="en-US">The period considered for the mandatory conversion of the convertible preferred stock.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod" xlink:to="itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage_lbl0" xml:lang="en-US">Threshold trading volume of the common stock during the Measurement Period for mandatory conversion of the convertible preferred stock.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage" xlink:to="itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConvertiblePreferredStockRedemptionNoticePeriod_lbl0" xml:lang="en-US">Notice period the entity is required to deliver before it can redeem Convertible Preferred Stock, in &apos;PnYnMnDTnHnMnS&apos; format, for example, &apos;P1Y5M13D&apos; represents the reported fact of one year, five months, and thirteen days.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockRedemptionNoticePeriod" xlink:to="itus_ConvertiblePreferredStockRedemptionNoticePeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue_lbl1" xml:lang="en-US">Initial stated value per share of convertible preferred stock.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue" xlink:to="itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DebtConversionConvertedInstrumentAdditionalSharesIssued_lbl0" xml:lang="en-US">Debt Conversion Converted Instrument Additional Shares Issued.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtConversionConvertedInstrumentAdditionalSharesIssued" xlink:to="itus_DebtConversionConvertedInstrumentAdditionalSharesIssued_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest_lbl0" xml:lang="en-US">The number of equity instruments that the holder of the debt instrument would receive if the debt was converted to interest amount of equity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest" xlink:to="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal_lbl0" xml:lang="en-US">The number of equity instruments that the holder of the debt instrument would receive if the debt was converted to principal amount of equity .</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal" xlink:to="itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DebtInstrumentDecreaseAccruedInterest_lbl0" xml:lang="en-US">Decrease for accrued, but unpaid interest on the debt instrument for the period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentDecreaseAccruedInterest" xlink:to="itus_DebtInstrumentDecreaseAccruedInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DebtInstrumentPrepaymentNoticePeriod_lbl0" xml:lang="en-US">Debt instrument prepayment notice period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentPrepaymentNoticePeriod" xlink:to="itus_DebtInstrumentPrepaymentNoticePeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DebtInstrumentPrepaymentThresholdTradingDays_lbl0" xml:lang="en-US">Threshold number of specified trading days that common stock price must attain the threshold prepayment price within a specified consecutive trading period to trigger prepayment feature.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentPrepaymentThresholdTradingDays" xlink:to="itus_DebtInstrumentPrepaymentThresholdTradingDays_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice_lbl0" xml:lang="en-US">The specified number of days prior to which the threshold number of trading days for prepayment stock price trigger must end.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice" xlink:to="itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DerivativeConversionFeatureIntrinsicValue_lbl0" xml:lang="en-US">Intrinsic Value of converted derivatives feature.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DerivativeConversionFeatureIntrinsicValue" xlink:to="itus_DerivativeConversionFeatureIntrinsicValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DerivativeLiabilityAndWarrant_lbl0" xml:lang="en-US">Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DerivativeLiabilityAndWarrant" xlink:to="itus_DerivativeLiabilityAndWarrant_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_DiscountForLackOfMarketability_lbl0" xml:lang="en-US">Discount for lack of marketability.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DiscountForLackOfMarketability" xlink:to="itus_DiscountForLackOfMarketability_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_EquityInstrumentConvertibleConversionPrice_lbl0" xml:lang="en-US">Conversion price of equity into preferred stock.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_EquityInstrumentConvertibleConversionPrice" xlink:to="itus_EquityInstrumentConvertibleConversionPrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_FairValueConvertiblePreferredStock_lbl0" xml:lang="en-US">Fair value of convertible Preferred stock.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FairValueConvertiblePreferredStock" xlink:to="itus_FairValueConvertiblePreferredStock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_FederalAndStateNOLAndTaxCreditCarryforwards_lbl0" xml:lang="en-US">Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss and  tax carryforwards.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FederalAndStateNOLAndTaxCreditCarryforwards" xlink:to="itus_FederalAndStateNOLAndTaxCreditCarryforwards_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_FiniteLivedPatentsNet_lbl0" xml:lang="en-US">Net carrying amount after accumulated amortization as of the balance sheet date.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FiniteLivedPatentsNet" xlink:to="itus_FiniteLivedPatentsNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants_lbl0" xml:lang="en-US">The gains and losses resulting from the acquisition of common stock and warrants to purchase common stock.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants" xlink:to="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_GainLossOnSharesConversion_lbl0" xml:lang="en-US">Gain or losses on conversion of securities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_GainLossOnSharesConversion" xlink:to="itus_GainLossOnSharesConversion_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther_lbl0" xml:lang="en-US">Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to expiring net operating losses, credits and other.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther" xlink:to="itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl0" xml:lang="en-US">The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred for royalties and legal fees.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable" xlink:to="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_InterestExpensePatentAcquisitionObligations_lbl0" xml:lang="en-US">Interest expense recorded during the period for the accretion of interest on patent acquisition obligations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_InterestExpensePatentAcquisitionObligations" xlink:to="itus_InterestExpensePatentAcquisitionObligations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_LicenseAgreementAggregateLicenseFee_lbl0" xml:lang="en-US">Aggregate license fees receivable as per agreement.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LicenseAgreementAggregateLicenseFee" xlink:to="itus_LicenseAgreementAggregateLicenseFee_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_LicenseAgreementContingentLicenseFeeReceivable_lbl0" xml:lang="en-US">Amount receivable based upon the occurrence of an event specified in the contractual terms.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LicenseAgreementContingentLicenseFeeReceivable" xlink:to="itus_LicenseAgreementContingentLicenseFeeReceivable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_LitigationAndLicensingExpenses_lbl0" xml:lang="en-US">Litigation and licensing expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LitigationAndLicensingExpenses" xlink:to="itus_LitigationAndLicensingExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange_lbl0" xml:lang="en-US">Book value of converted debenture, accrued interest and derivative liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange" xlink:to="itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange_lbl0" xml:lang="en-US">Expiration date range of operating loss carryforward and tax credit carryforward.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange" xlink:to="itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_PatentAcquisitionObligation_lbl0" xml:lang="en-US">Obligation related to patent acquisition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PatentAcquisitionObligation" xlink:to="itus_PatentAcquisitionObligation_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_PatentAcquisitionObligationsDiscountedPresentValue_lbl0" xml:lang="en-US">Discounted present value of patent acquisition obligations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PatentAcquisitionObligationsDiscountedPresentValue" xlink:to="itus_PatentAcquisitionObligationsDiscountedPresentValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant_lbl0" xml:lang="en-US">The cash outflow to reacquire common stock and cancellation of warrant during the period.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant" xlink:to="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ProceedsFromIssuanceOfCommonStockShares_lbl0" xml:lang="en-US">Proceeds From Issuance Of Common Stock Shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ProceedsFromIssuanceOfCommonStockShares" xlink:to="itus_ProceedsFromIssuanceOfCommonStockShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_RetirementAndCancellationOfShares_lbl0" xml:lang="en-US">Cancellation of shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RetirementAndCancellationOfShares" xlink:to="itus_RetirementAndCancellationOfShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_RevenueFromPatentAssertionActivities_lbl0" xml:lang="en-US">Amount of revenue recognized from patent assertion activities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RevenueFromPatentAssertionActivities" xlink:to="itus_RevenueFromPatentAssertionActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_RoyaltiesAndContingentLegalFeesPayable_lbl0" xml:lang="en-US">Royalties and contingent legal fees payable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RoyaltiesAndContingentLegalFeesPayable" xlink:to="itus_RoyaltiesAndContingentLegalFeesPayable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ScheduleOfDebtIssuanceCostTableTextBlock_lbl0" xml:lang="en-US">Tabular disclosure of the cost related to issuance of debt.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ScheduleOfDebtIssuanceCostTableTextBlock" xlink:to="itus_ScheduleOfDebtIssuanceCostTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_SecuritiesIssuedInConversionExchangeShares_lbl0" xml:lang="en-US">Number of shares issued in exchange of conversion of a convertible instrument.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SecuritiesIssuedInConversionExchangeShares" xlink:to="itus_SecuritiesIssuedInConversionExchangeShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_SecuritiesIssuedInValue_lbl0" xml:lang="en-US">The value of total securities issued in conversion.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SecuritiesIssuedInValue" xlink:to="itus_SecuritiesIssuedInValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription_lbl0" xml:lang="en-US">The description of vesting period related to the share based compensation arrangement by share based payment award.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl0" xml:lang="en-US">Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding and exercisable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl0" xml:lang="en-US">Number of options outstanding and exercisable, including both vested and non-vested options.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Weighted average price per share at which the shares are outstanding and exercisable under the stock option plan.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_SharesExchangedForGDR_lbl0" xml:lang="en-US">Number of shares exchanged for GDRs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SharesExchangedForGDR" xlink:to="itus_SharesExchangedForGDR_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities_lbl0" xml:lang="en-US">The value of stock issued during the period in lieu of interest on convertible securities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities" xlink:to="itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities_lbl0" xml:lang="en-US">The total number of shares issued during the period in lieu of interest  on convertible securities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities" xlink:to="itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_StockIssuedDuringPeriodSharesPatentLicense_lbl0" xml:lang="en-US">Common stock issued to acquire patent license.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodSharesPatentLicense" xlink:to="itus_StockIssuedDuringPeriodSharesPatentLicense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_StockIssuedDuringPeriodValuePatentLicense_lbl0" xml:lang="en-US">Common stock issued to acquire patent license.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodValuePatentLicense" xlink:to="itus_StockIssuedDuringPeriodValuePatentLicense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_StockIssuedFairValue_lbl0" xml:lang="en-US">Fair value of stock issued.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedFairValue" xlink:to="itus_StockIssuedFairValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_StockPremiumForLiquidity_lbl0" xml:lang="en-US">Stock premium for liquidity rate.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockPremiumForLiquidity" xlink:to="itus_StockPremiumForLiquidity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_Trials_lbl1" xml:lang="en-US">Trials.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_Trials" xlink:to="itus_Trials_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_WarrantExerciseTriggerPrice_lbl0" xml:lang="en-US">Warrant exercise trigger price percentage.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_WarrantExerciseTriggerPrice" xlink:to="itus_WarrantExerciseTriggerPrice_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_WarrantIssuedFairValue_lbl0" xml:lang="en-US">Fair value of warrant issued.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_WarrantIssuedFairValue" xlink:to="itus_WarrantIssuedFairValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure_lbl0" xml:lang="en-US">Warrants not Settleled in Cash Relative Fair Value Disclosure.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure" xlink:to="itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AccountingTreatmentAxis_lbl0" xml:lang="en-US">Accounting Treatment [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AccountingTreatmentAxis" xlink:to="itus_AccountingTreatmentAxis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_EquityComponentDescriptionAxis_lbl0" xml:lang="en-US">Equity Component Description [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_EquityComponentDescriptionAxis" xlink:to="itus_EquityComponentDescriptionAxis_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_EquityComponentDescriptionAxis_lbl1" xml:lang="en-US">Information by description of equity component.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_EquityComponentDescriptionAxis" xlink:to="itus_EquityComponentDescriptionAxis_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_A2010SharePlanAmendmendMember_lbl0" xml:lang="en-US">A2010 Share Plan Amendmend [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_A2010SharePlanAmendmendMember" xlink:to="itus_A2010SharePlanAmendmendMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_A8ConvertibleDebentureMember_lbl0" xml:lang="en-US">A8 Convertible Debenture [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_A8ConvertibleDebentureMember" xlink:to="itus_A8ConvertibleDebentureMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_A8ConvertibleDebentureWarrantMember_lbl0" xml:lang="en-US">A8 Convertible Debenture Warrant [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_A8ConvertibleDebentureWarrantMember" xlink:to="itus_A8ConvertibleDebentureWarrantMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AUOLicenseAgreementMember_lbl0" xml:lang="en-US">AUO License Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AUOLicenseAgreementMember" xlink:to="itus_AUOLicenseAgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AUOSettlementMember_lbl0" xml:lang="en-US">AUO Settlement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AUOSettlementMember" xlink:to="itus_AUOSettlementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AgreementMember_lbl0" xml:lang="en-US">Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AgreementMember" xlink:to="itus_AgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AwardsOfOptionsWith10YearTermsMember_lbl0" xml:lang="en-US">Awards Of Options With 10 Year Terms [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AwardsOfOptionsWith10YearTermsMember" xlink:to="itus_AwardsOfOptionsWith10YearTermsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CaliforniaStateMember_lbl0" xml:lang="en-US">California State [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CaliforniaStateMember" xlink:to="itus_CaliforniaStateMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ChairmansCompensationMember_lbl0" xml:lang="en-US">Chairmans Compensation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ChairmansCompensationMember" xlink:to="itus_ChairmansCompensationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ChargedToAdditionalPaidInCapitalMember_lbl0" xml:lang="en-US">Charged To Additional Paid In Capital [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ChargedToAdditionalPaidInCapitalMember" xlink:to="itus_ChargedToAdditionalPaidInCapitalMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CommonStockAndPreferredStockMember_lbl0" xml:lang="en-US">Common Stock And Preferred Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_CommonStockAndPreferredStockMember" xlink:to="itus_CommonStockAndPreferredStockMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ConsultantMember_lbl0" xml:lang="en-US">Consultant [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits_lbl0" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Tax Credit, Percent</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent" xlink:to="us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl0" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNoncashIncomeExpense_lbl0" xml:lang="en-US">Other Noncash Income (Expense)</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNet" xlink:to="us-gaap_DeferredTaxAssetsNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssumptionsExpectedVolatilityRate_lbl0" xml:lang="en-US">Fair Value Assumptions, Expected Volatility Rate</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_DeferredTaxAssetsValuationAllowance_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl0" xml:lang="en-US">Liabilities and Equity</label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>13
<FILENAME>itus-20151031_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6834810784">
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<th class="th" colspan="1"></th>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Oct. 31,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityPublicFloat</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DocumentAndEntityInformationAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6835293776">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS - USD ($)<br></strong></div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 4,369,219<span></span>
</td>
<td class="nump">$ 3,361,246<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermInvestments', window );">Short&#8211;term investments in certificates of deposit</a></td>
<td class="nump">2,400,000<span></span>
</td>
<td class="nump">2,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">400,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other current assets</a></td>
<td class="nump">126,528<span></span>
</td>
<td class="nump">60,577<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">6,895,747<span></span>
</td>
<td class="nump">6,321,823<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FiniteLivedPatentsNet', window );">Patents, net of accumulated amortization of $639,744 and $314,453, respectively</a></td>
<td class="nump">2,396,367<span></span>
</td>
<td class="nump">2,721,658<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net of accumulated depreciation of $13,617 and $48,842, respectively</a></td>
<td class="nump">43,456<span></span>
</td>
<td class="nump">11,875<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">9,335,570<span></span>
</td>
<td class="nump">9,055,356<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent', window );">Accounts payable and accrued expenses</a></td>
<td class="nump">380,765<span></span>
</td>
<td class="nump">1,249,426<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_RoyaltiesAndContingentLegalFeesPayable', window );">Royalties and contingent legal fees payable</a></td>
<td class="nump">213,017<span></span>
</td>
<td class="nump">560,076<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">593,782<span></span>
</td>
<td class="nump">1,809,502<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_PatentAcquisitionObligation', window );">Patent acquisition obligation (Note 7)</a></td>
<td class="nump">3,688,187<span></span>
</td>
<td class="nump">3,236,281<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">$ 4,281,969<span></span>
</td>
<td class="nump">$ 5,045,783<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies (Notes 7 and 8)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Shareholders&#8217; equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding, Series A convertible preferred stock, par value $100 per share; 140 shares issued and outstanding, respectively</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 14,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, par value $.01 per share; 24,000,000 shares authorized; 8,724,878 and 8,788,176 shares issued and outstanding, respectively</a></td>
<td class="nump">87,249<span></span>
</td>
<td class="nump">87,882<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">151,101,117<span></span>
</td>
<td class="nump">148,677,413<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(146,148,765)<span></span>
</td>
<td class="num">(144,769,722)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders&#8217; equity</a></td>
<td class="nump">5,053,601<span></span>
</td>
<td class="nump">4,009,573<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and shareholders&#8217; equity</a></td>
<td class="nump">$ 9,335,570<span></span>
</td>
<td class="nump">$ 9,055,356<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember', window );">Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Shareholders&#8217; equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding, Series A convertible preferred stock, par value $100 per share; 140 shares issued and outstanding, respectively</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders&#8217; equity</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 14,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember', window );">Series A Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Shareholders&#8217; equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding, Series A convertible preferred stock, par value $100 per share; 140 shares issued and outstanding, respectively</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 14,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_FiniteLivedPatentsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net carrying amount after accumulated amortization as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_FiniteLivedPatentsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_PatentAcquisitionObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Obligation related to patent acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_PatentAcquisitionObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_RoyaltiesAndContingentLegalFeesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Royalties and contingent legal fees payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_RoyaltiesAndContingentLegalFeesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a(1)<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 8<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 1<br> -Subparagraph g<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6835375696">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Patents, accumulated amortization (in Dollars)</a></td>
<td class="nump">$ 639,744<span></span>
</td>
<td class="nump">$ 314,453<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Property and equipment, accumulated depreciation (in Dollars)</a></td>
<td class="nump">$ 13,617<span></span>
</td>
<td class="nump">$ 48,842<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock par value (in Dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
<td class="nump">24,000,000<span></span>
</td>
<td class="nump">24,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued</a></td>
<td class="nump">8,724,878<span></span>
</td>
<td class="nump">8,788,176<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding</a></td>
<td class="nump">8,724,878<span></span>
</td>
<td class="nump">8,788,176<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember', window );">Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock par value (in Dollars per share)</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized</a></td>
<td class="nump">19,860<span></span>
</td>
<td class="nump">19,860<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember', window );">Series A Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock par value (in Dollars per share)</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">140<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">140<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6835118848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenue:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_RevenueFromPatentAssertionActivities', window );">Revenue from licensing activities</a></td>
<td class="nump">$ 255,000<span></span>
</td>
<td class="nump">$ 2,480,000<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LicenseAndServicesRevenue', window );">Amortization of display technology development and license fees received from AU Optronics Corporation in fiscal year 2011</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,187,320<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Settlement with AU Optronics Corporation</a></td>
<td class="nump">9,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Total revenue</a></td>
<td class="nump">9,255,000<span></span>
</td>
<td class="nump">3,667,320<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingCostsAndExpensesAbstract', window );"><strong>Operating costs and expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RoyaltyExpense', window );">Inventor royalties and contingent legal fees</a></td>
<td class="nump">147,670<span></span>
</td>
<td class="nump">1,412,661<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_LitigationAndLicensingExpenses', window );">Litigation and licensing expenses</a></td>
<td class="nump">3,500,852<span></span>
</td>
<td class="nump">575,413<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization of patents</a></td>
<td class="nump">325,291<span></span>
</td>
<td class="nump">314,453<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Marketing, general and administrative expenses (including non-cash stock option compensation expense of $2,676,309 and $3,149,799, respectively)</a></td>
<td class="nump">6,225,946<span></span>
</td>
<td class="nump">6,408,861<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Total operating costs and expenses</a></td>
<td class="nump">10,199,759<span></span>
</td>
<td class="nump">8,711,388<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from operations</a></td>
<td class="num">$ (944,759)<span></span>
</td>
<td class="num">(5,044,068)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments', window );">Impairment in value of Videocon Industries Limited global depository receipts</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(62,825)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Change in value of derivative liability (Note 5)</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(592,945)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on extinguishment of debt (Note 5)</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(2,699,022)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense (Notes 5 and 7)</a></td>
<td class="num">$ (451,906)<span></span>
</td>
<td class="num">(1,263,617)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeDividend', window );">Dividend income</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">47,568<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="nump">$ 17,622<span></span>
</td>
<td class="nump">8,595<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Loss before income taxes</a></td>
<td class="num">$ (1,379,043)<span></span>
</td>
<td class="num">$ (9,606,314)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Provision for income taxes (Note 8)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (1,379,043)<span></span>
</td>
<td class="num">$ (9,606,314)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Net loss per share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Basic and diluted (in Dollars per share)</a></td>
<td class="num">$ (0.16)<span></span>
</td>
<td class="num">$ (1.10)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average common shares outstanding:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Basic and diluted (in Shares)</a></td>
<td class="nump">8,760,126<span></span>
</td>
<td class="nump">8,710,867<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Litigation and licensing expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from patent assertion activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=49167202&amp;loc=d3e26805-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs of sales and operating expenses for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the fair value of derivatives recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (a),(c),(d),(e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeDividend">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of dividend income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeDividend</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LicenseAndServicesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue from multiple-deliverable arrangements that include licensing fees and services revenue. Licensing revenue is consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Services revenue may be derived by providing other, nonspecified, services during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(d),(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LicenseAndServicesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingCostsAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingCostsAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Related Parties<br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RoyaltyExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense related to royalty payments under a contractual arrangement such as payment for mineral and drilling rights and use of technology or intellectual property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RoyaltyExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51677171&amp;loc=d3e3636-108311<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6767664240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Non-cash Stock Option Compensation Expenses</a></td>
<td class="nump">$ 2,676,309<span></span>
</td>
<td class="nump">$ 3,149,799<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br> -Section F<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6842401632">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS` EQUITY - USD ($)<br></strong></div></th>
<th class="th">
<div>Investment In Videocon [Member] </div>
<div>Common Stock [Member]</div>
</th>
<th class="th">
<div>Investment In Videocon [Member] </div>
<div>Additional Paid-in Capital [Member]</div>
</th>
<th class="th">
<div>Common Stock And Preferred Stock [Member] </div>
<div>Preferred Stock [Member]</div>
</th>
<th class="th">
<div>Common Stock And Preferred Stock [Member] </div>
<div>Common Stock [Member]</div>
</th>
<th class="th">
<div>Common Stock And Preferred Stock [Member] </div>
<div>Additional Paid-in Capital [Member]</div>
</th>
<th class="th"><div>Common Stock And Preferred Stock [Member]</div></th>
<th class="th"><div>Preferred Stock [Member]</div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Additional Paid-in Capital [Member]</div></th>
<th class="th"><div>Loan Receivable From Former Affiliate [Member]</div></th>
<th class="th"><div>Retained Earnings [Member]</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE at Oct. 31, 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 83,716<span></span>
</td>
<td class="nump">$ 136,759,099<span></span>
</td>
<td class="num">$ (5,000,000)<span></span>
</td>
<td class="num">$ (135,163,408)<span></span>
</td>
<td class="num">$ (3,320,593)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">BALANCE (in Shares) at Oct. 31, 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,371,558<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition', window );">Stock option compensation to employees and consultants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,149,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,149,799<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Common stock issued upon exercise of stock options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 206<span></span>
</td>
<td class="nump">75,669<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75,875<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Common stock issued upon exercise of stock options (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueIssuedForServices', window );">Common stock issued to consultants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 124<span></span>
</td>
<td class="nump">84,574<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">84,698<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices', window );">Common stock issued to consultants (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities', window );">Common stock issued upon conversion of convertible debentures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 1,008<span></span>
</td>
<td class="nump">$ 5,214,633<span></span>
</td>
<td class="nump">$ 5,229,641<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,307<span></span>
</td>
<td class="nump">2,732,042<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,735,349<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Common stock issued upon conversion of convertible debentures (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="nump">100,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">330,683<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities', window );">Common stock issued in lieu of interest on convertible debentures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 105<span></span>
</td>
<td class="nump">61,673<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,778<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities', window );">Common stock issued in lieu of interest on convertible debentures (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,537<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Sale of common stock, net of expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,400<span></span>
</td>
<td class="nump">3,666,735<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,673,135<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ProceedsFromIssuanceOfCommonStockShares', window );">Sale of common stock, net of expense (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">640,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Acquisition of common stock in exchange for investment in Videocon Industries Limited global depository receipts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,134,516)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,134,516)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue', window );">Retire common stock repurchased</a></td>
<td class="num">$ (8,000)<span></span>
</td>
<td class="nump">$ 8,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares', window );">Retire common stock repurchased (in Shares)</a></td>
<td class="num">(800,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued', window );">Warrants issued in connection with issuance of convertible debentures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">513,112<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">513,112<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueOther', window );">Common stock issued upon exercise of warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 536<span></span>
</td>
<td class="nump">299,473<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">300,009<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesOther', window );">Common stock issued upon exercise of warrants (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_StockIssuedDuringPeriodValuePatentLicense', window );">Common stock issued to acquire patent license</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 480<span></span>
</td>
<td class="nump">247,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">247,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_StockIssuedDuringPeriodSharesPatentLicense', window );">Common stock issued to acquire patent license (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">48,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansAndLeasesReceivableRelatedPartiesCollections', window );">Satisfaction of loan receivable from former affiliate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,606,314)<span></span>
</td>
<td class="num">(9,606,314)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE at Oct. 31, 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 87,882<span></span>
</td>
<td class="nump">148,677,413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(144,769,722)<span></span>
</td>
<td class="nump">4,009,573<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">BALANCE (in Shares) at Oct. 31, 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="nump">8,788,176<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition', window );">Stock option compensation to employees and consultants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,676,309<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,676,309<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Common stock issued upon exercise of stock options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 173<span></span>
</td>
<td class="nump">44,462<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44,635<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Common stock issued upon exercise of stock options (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,334<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueIssuedForServices', window );">Common stock issued to consultants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 116<span></span>
</td>
<td class="nump">45,984<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46,100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices', window );">Common stock issued to consultants (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants', window );">Repurchase 92,232 shares of common stock and cancellation of warrants to purchase 16,000 shares of common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(343,973)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(343,973)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Acquisition of common stock in exchange for investment in Videocon Industries Limited global depository receipts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">445,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue', window );">Retire common stock repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (922)<span></span>
</td>
<td class="nump">922<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares', window );">Retire common stock repurchased (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(92,232)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,379,043)<span></span>
</td>
<td class="num">(1,379,043)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE at Oct. 31, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 87,249<span></span>
</td>
<td class="nump">$ 151,101,117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (146,148,765)<span></span>
</td>
<td class="nump">$ 5,053,601<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">BALANCE (in Shares) at Oct. 31, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="nump">8,724,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Repurchase of shares and canellation of warrants value adjusted to additional paid in capital (APIC).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ProceedsFromIssuanceOfCommonStockShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Issuance Of Common Stock Shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ProceedsFromIssuanceOfCommonStockShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of stock issued during the period in lieu of interest on convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_StockIssuedDuringPeriodInLieuOfInterestOnConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total number of shares issued during the period in lieu of interest  on convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_StockIssuedDuringPeriodSharesInLieuOfInterestOnConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_StockIssuedDuringPeriodSharesPatentLicense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Common stock issued to acquire patent license.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_StockIssuedDuringPeriodSharesPatentLicense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_StockIssuedDuringPeriodValuePatentLicense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Common stock issued to acquire patent license.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_StockIssuedDuringPeriodValuePatentLicense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of recognized equity-based compensation related to stock options during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in additional paid in capital (APIC) resulting from the issuance of warrants. Includes allocation of proceeds of debt securities issued with detachable stock purchase warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 25<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=28183637&amp;loc=d3e4724-112606<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Warrant<br> -URI http://asc.fasb.org/extlink&amp;oid=6528364<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansAndLeasesReceivableRelatedPartiesCollections">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reflects the amount of collections received from related parties to reduce the carrying amounts of loans and leases receivable due from them.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.7(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansAndLeasesReceivableRelatedPartiesCollections</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-30)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued in lieu of cash for services contributed to the entity. Number of shares includes, but is not limited to, shares issued for services contributed by vendors and founders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesIssuedForServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross value of stock issued during the period upon the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued in lieu of cash for services contributed to the entity. Value of the stock issued includes, but is not limited to, services contributed by vendors and founders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueIssuedForServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued as a result of the exercise of stock options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased and retired during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedAndRetiredDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedAndRetiredDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_InvestmentInVideoconMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_InvestmentInVideoconMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_EquityComponentDescriptionAxis=itus_CommonStockAndPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_EquityComponentDescriptionAxis=itus_CommonStockAndPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=itus_LoanReceivableFromFormerAffiliateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=itus_LoanReceivableFromFormerAffiliateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6743349456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS` EQUITY (Parentheticals) - shares<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockSharesAcquired', window );">Treasury Stock, Shares, Acquired</a></td>
<td class="nump">92,232<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</a></td>
<td class="nump">16,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and are being held in treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockSharesAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6840767968">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ReconciliationOfNetLossToNetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Reconciliation of net loss to net cash provided by (used in) operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (1,379,043)<span></span>
</td>
<td class="num">$ (9,606,314)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockOptionPlanExpense', window );">Stock option compensation to employees and consultants</a></td>
<td class="nump">2,676,309<span></span>
</td>
<td class="nump">3,149,799<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims', window );">Common stock issued to consultants</a></td>
<td class="nump">46,100<span></span>
</td>
<td class="nump">84,698<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization of patents</a></td>
<td class="nump">325,291<span></span>
</td>
<td class="nump">314,453<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense', window );">Accretion of interest on patent acquisition obligations to interest expense</a></td>
<td class="nump">451,906<span></span>
</td>
<td class="nump">385,770<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants', window );">Loss on acquisition of common stock and warrants to purchase common stock</a></td>
<td class="nump">$ 101,280<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Change in value of derivative liability</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">592,945<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on extinguishment of debt</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">2,699,022<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DebtInstrumentDecreaseAccruedInterest', window );">Accrued interest reversed on conversion of convertible debenture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">173,833<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfDebtDiscountPremium', window );">Amortization of convertible debenture discount charge to interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">634,267<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments', window );">Impairment in value of investment in Videocon Industries Limited GDR&#8217;s</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">62,825<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaidInKindInterest', window );">Common stock issued to pay interest on convertible debentures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,778<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions', window );">Common stock issued to acquire patent license</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashIncomeExpense', window );">Other</a></td>
<td class="nump">$ 23,195<span></span>
</td>
<td class="nump">38,225<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ChangeInOperatingAssetsAndLiabilitiesAbstract', window );"><strong>Change in operating assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
<td class="nump">400,000<span></span>
</td>
<td class="num">(225,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
<td class="num">(65,951)<span></span>
</td>
<td class="nump">100,069<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
<td class="num">(868,661)<span></span>
</td>
<td class="num">(27,044)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable', window );">Royalties and contingent legal fees payable</a></td>
<td class="num">(347,059)<span></span>
</td>
<td class="nump">352,333<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,187,320)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by (used in) operating activities</a></td>
<td class="nump">1,363,367<span></span>
</td>
<td class="num">(2,379,261)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CashFlowsFromInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireShortTermInvestments', window );">Disbursements to acquire short-term investments in certificates of deposit</a></td>
<td class="num">(2,900,000)<span></span>
</td>
<td class="num">(5,200,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfShortTermInvestments', window );">Proceeds from maturities of short-term investments in certificates of deposit</a></td>
<td class="nump">3,000,000<span></span>
</td>
<td class="nump">2,700,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchase of property and equipment</a></td>
<td class="num">(54,776)<span></span>
</td>
<td class="num">(6,684)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by (used in) investing activities</a></td>
<td class="nump">45,224<span></span>
</td>
<td class="num">(2,506,684)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CashFlowsFromFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromConvertibleDebt', window );">Proceeds from issuance of convertible debentures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from sale of common stock, net of expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,673,135<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromWarrantExercises', window );">Proceeds from exercise of warrants to purchase common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">300,009<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from exercise of employee stock options</a></td>
<td class="nump">44,635<span></span>
</td>
<td class="nump">75,875<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant', window );">Payments to acquire 92,232 shares of common stock and cancellation of warrants to purchase 16,000 shares of common stock</a></td>
<td class="num">(445,253)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfConvertibleDebt', window );">Payments to redeem convertible securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(200,000)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash (used in) provided by financing activities</a></td>
<td class="num">(400,618)<span></span>
</td>
<td class="nump">7,349,019<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase in cash and cash equivalents</a></td>
<td class="nump">1,007,973<span></span>
</td>
<td class="nump">2,463,074<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of year</a></td>
<td class="nump">3,361,246<span></span>
</td>
<td class="nump">898,172<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of year</a></td>
<td class="nump">$ 4,369,219<span></span>
</td>
<td class="nump">3,361,246<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SupplementalDisclosureOfNonCashInvestingAndFinancingActivitiesAbstract', window );"><strong>Supplemental disclosure of non-cash investing and financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1', window );">Non-cash patent acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,036,011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CommonStockIssuedToAcquirePatentLicense', window );">Common stock issued to acquire patent license</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">185,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities', window );">Common stock issued upon conversion of debentures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,735,349<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature', window );">Fair value of debenture embedded conversion feature, at issuance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,570,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAdjustmentOfWarrants', window );">Relative fair value of convertible debenture warrant, at issuance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">513,112<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockAmountIssued1', window );">Non-cash acquisition of 20,000,000 shares of common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,134,516<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Common stock and preferred stock issued upon conversion of convertible debentures due November 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,229,641<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CancellationOfLoanReceivableFromFormerAffiliate', window );">Cancellation of loan receivable from former affiliate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,000,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CancellationOfLoanPayableToFormerAffiliate', window );">Cancellation of loan payable to former affiliate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accretion of interest on patent acquisition obligations to interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of loans payable to former affiliate cancelled in noncash investing or financing transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CancellationOfLoanPayableToFormerAffiliate</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of loans receivable to former affiliate cancelled in noncash investing or financing transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CashFlowsFromFinancingActivitiesAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CashFlowsFromInvestingActivitiesAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ChangeInOperatingAssetsAndLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ChangeInOperatingAssetsAndLiabilitiesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Common Stock Issued to acquire patent license.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CommonStockIssuedToAcquirePatentLicense</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Decrease for accrued, but unpaid interest on the debt instrument for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DebtInstrumentDecreaseAccruedInterest</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains and losses resulting from the acquisition of common stock and warrants to purchase common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred for royalties and legal fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to reacquire common stock and cancellation of warrant during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ReconciliationOfNetLossToNetCashProvidedByUsedInOperatingActivitiesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SupplementalDisclosureOfNonCashInvestingAndFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfDebtDiscountPremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfDebtDiscountPremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=49167202&amp;loc=d3e26805-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockAmountIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of the financial instrument issued [noncash or part noncash] in the conversion of stock. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockAmountIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of a favorable spread to a debt holder between the amount of debt being converted and the value of the securities received upon conversion. This is an embedded conversion feature of convertible debt issued that is in-the-money at the commitment date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21538-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Beneficial Conversion Feature<br> -URI http://asc.fasb.org/extlink&amp;oid=6505963<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeGainLossOnDerivativeNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the fair value of derivatives recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (a),(c),(d),(e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeGainLossOnDerivativeNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAdjustmentOfWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense (income) related to adjustment to fair value of warrant liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 480<br> -SubTopic 10<br> -Section 25<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6939902&amp;loc=d3e20148-110875<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAdjustmentOfWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of share-based compensation granted to nonemployees as payment for services rendered or acknowledged claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangibles that an Entity acquires in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNoncashIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNoncashIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaidInKindInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaidInKindInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromConvertibleDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromConvertibleDebt</td>
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<tr>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales of all investments, including securities and other assets, having ready marketability and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (j)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromWarrantExercises">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromWarrantExercises</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfConvertibleDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow from the repayment of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfConvertibleDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of stock issued in noncash financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued pursuant to acquisitions during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross value of stock issued during the period upon the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockOptionPlanExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockOptionPlanExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6761922976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals) - shares<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockSharesAcquired', window );">Number of Common Stock Acquired</a></td>
<td class="nump">92,232<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Number Of Warrants Cancelled</a></td>
<td class="nump">16,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1', window );">Non-cash acquisition of common shares</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">20,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued as [noncash or part noncash] consideration for a business or asset acquired. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockSharesAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and are being held in treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockSharesAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6754095056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BUSINESS AND FUNDING<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock', window );">Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]</a></td>
<td class="text"><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px;"><br />1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration: underline;">BUSINESS&nbsp;AND&nbsp;FUNDING</font></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px"><u>Description of Business</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">As used herein, <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>we,<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>us,<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>our,<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> or <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ITUS<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> means ITUS Corporation and its wholly-owned subsidiaries. &nbsp;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. &nbsp;In October of 2012 under the leadership of a new management team, the Company undertook a transformation process to recapitalize the Company, unencumber the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s assets, seek reparations from a previous joint development partner, change the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s name and ticker symbol, relocate the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s headquarters and modernize its systems, and monetize patented technologies developed by the Company, or acquired from third parties. In July of 2015, the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s stock was accepted for listing and began trading on the NASDAQ Capital Market. </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In June of 2015, the Company announced the formation of a new subsidiary, Anixa Diagnostics Corporation, to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, Anixa entered into a collaborative research agreement &nbsp;with The Wistar Institute, the nation<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating Anixa<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by Anixa and associated with solid tumors. In October of 2015, Anixa and Wistar announced very favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by Anixa, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted. &nbsp;&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Over the next several quarters, we expect Anixa to be the primary focus of the Company. As part of our legacy operations, the Company has outsourced a small development project in connection with one of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s thin-film display technologies, and through certain of its subsidiary companies, the Company remains engaged in limited patent licensing activities in the areas of encryption, and advanced materials. &nbsp;We do not expect these activities to be a significant part of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s ongoing operations.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Over the past several quarters, our revenue has been derived from technology licensing and the sale of patented technologies, including in connection with the settlement of litigation. In addition to Anixa, the Company expects to make investments in and form new companies to develop additional emerging technologies.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><u>AUO Lawsuit and Settlement</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">On December 29, 2014, the Company and AUO Optronics Corporation (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>AUO<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) entered into a Settlement Agreement (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Settlement Agreement<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) and a Patent Assignment Agreement (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Patent Assignment Agreement<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> and together with the Settlement Agreement, the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Agreements<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) pursuant to which the Company received an aggregate of $9,000,000 from AUO. &nbsp;The Agreements were entered into to resolve a lawsuit filed by the Company against AUO, relating to the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s patented ePaper&reg; Electrophoretic Display, and Nano Field Emission Display (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>nFED<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) technologies.</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)"><i>Background</i></font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">In May 2011, the Company entered into an Exclusive License Agreement (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>EPD License Agreement<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) and a License Agreement (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Nano Display License Agreement<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) with AUO (together the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>AUO License Agreements<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;Under the EPD License Agreement, the Company provided AUO with an exclusive, non-transferable, worldwide license to its ePaper&reg; Electrophoretic Display (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>EPD<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) patents and technology, in connection with AUO jointly developing EPD products with the Company. &nbsp;Under the Nano Display License Agreement, the Company provided AUO with a non-exclusive, non-transferable, worldwide license to its Nano Field Emission Display patents and technology, in connection with AUO jointly developing nFED products with the Company. </font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">On January 28, 2013, the Company terminated the AUO License Agreements due to numerous alleged material and continual breaches of the agreements by AUO. &nbsp;On January 28, 2013, the Company also filed a lawsuit in the United States District Court for the Northern District of California against AUO and E Ink Corporation in connection with the AUO License Agreements, alleging breach of contract, breach of the implied covenant of good faith and fair dealing, fraudulent inducement, unjust enrichment, unfair business practices, and other charges (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>AUO/E Ink Lawsuit<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;In June 2013, the Company and AUO agreed to arbitrate the charges (the case against E Ink Corporation had been dismissed without prejudice) (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>AUO/E Ink Arbitration<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>).</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)"><i>The Agreements</i></font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">Pursuant to the Settlement Agreement, AUO paid the Company $2,000,000 in U.S. currency, net of any Taiwanese withholding taxes. The Settlement Agreement further provides that: </font></p><br/><p style="margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;"><font style="font-size: 10pt; font-family: symbol;" lang="EN-US">&#x25cf;</font></p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">the Company will dismiss the AUO/E Ink Lawsuit and AUO/E Ink Arbitration, with prejudice;</font></p><br/><p style="margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;"><font style="font-size: 10pt; font-family: symbol;" lang="EN-US">&#x25cf;</font></p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">the AUO License Agreements are terminated; </font></p><br/><p style="margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;"><font style="font-size: 10pt; font-family: symbol;" lang="EN-US">&#x25cf;</font></p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">AUO gives up all rights to the nFED Technology;</font></p><br/><p style="margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;"><font style="font-size: 10pt; font-family: symbol;" lang="EN-US">&#x25cf;</font></p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">for a period of two years, the Company agrees not to initiate (whether on its own or through a third party) any patent infringement lawsuits against AUO or its affiliates alleging infringement by AUO<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s or AUO<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s affiliates products or services, for patents owned or controlled by the Company as of the date of the Settlement Agreement. &nbsp;Any potential damages for patent infringement will toll uninterrupted during this two year period. The prohibition does not apply to patents acquired by the Company after the date of the Settlement Agreement; and</font></p><br/><p style="margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;"><font style="font-size: 10pt; font-family: symbol;" lang="EN-US">&#x25cf;</font></p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">each of AUO and the Company mutually released each other from all claims that either may have against the other in connection with the AUO License Agreements, including any claims relating to the ePaper&reg; Electrophoretic Display and nFED patents and technologies.</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">&nbsp;Pursuant to the Patent Assignment Agreement, AUO paid the Company $7,000,000 in U.S. currency, net of any Taiwanese withholding taxes in exchange for the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s ePaper&reg; Electrophoretic Display patent portfolio for which AUO was previously the exclusive licensee, consisting of: </font></p><br/><p style="margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;"><font style="font-size: 10pt; font-family: symbol;" lang="EN-US">&#x25cf;</font></p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">10 active U.S. patents and 1 U.S. pending patent application; and</font></p><br/><p style="margin-bottom: -2px; font-size: 11pt; width: 96px; float: left; margin-top: 0px; text-indent: 72px;"><font style="font-size: 10pt; font-family: symbol;" lang="EN-US">&#x25cf;</font></p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">103 expired and/or abandoned U.S. and foreign patents and/or patent applications. </font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">In connection with the lawsuit and settlement, the Company incurred a total of approximately $3,604,000 of legal fees and litigation costs.</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><u>Unwinding of Business Relationship and Interests with Videocon</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">On August 29, 2014, the Company and CopyTele International Ltd., a wholly-owned subsidiary of the Company (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Subsidiary<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), terminated their business relationship (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Business Relationship<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) with Videocon Industries Limited (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Videocon<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) and Mars Overseas Limited, an affiliate of Videocon (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Mars<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> and together with the Company, the Subsidiary and Videocon, the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Parties<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;The Business Relationship began in November 2007 and related to a proposed joint development effort between the Company and Videocon to develop a certain Nano Field Emission Display technology (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Technology<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;In connection with the proposed joint venture, (i) the Company granted a non-transferable, worldwide license to Videocon for the Technology (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>License<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), (ii) the Subsidiary made a $5 million dollar loan to Mars (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Subsidiary Loan<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), (iii) Mars made an identical $5 million dollar loan to the Subsidiary (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Mars Loan<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> and together with the Subsidiary Loan, the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Loans<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), (iv) the Company sold to Mars 800,000 shares of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Shares<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) and (v) Global EPC Ventures Limited sold to the Company 1,495,845 global depository receipts of Videocon (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>GDRs<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). The Shares and GDRs were subsequently used to secure the Loans.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Because Videocon was unable to continue with its joint development responsibilities, the Technology was not jointly developed by the Parties. Accordingly, the Company and Videocon agreed to terminate the Business Relationship. In order to terminate the Business Relationship, the Parties entered into several agreements whereby: (i) the License was terminated, (ii) both of the Loans were canceled and (iii) the Shares and GDRs were exchanged for each other (collectively, the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Termination Transactions<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). The result of these Termination Transactions was to undo the initial transactions between the Parties that set forth the Business Relationship. Aside from this business relationship there is no other material relationship between the Parties. &nbsp;In accounting for the unwinding of this business relationship, the Company offset the two loans and then recorded its repurchased shares of common stock at the then current fair value of the GDRs and then retired and cancelled those shares.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px"><u>Funding</u> </p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">In November 2013, the Company completed a private placement with a single institutional investor, pursuant to which the Company issued a $3,500,000 principal amount 6% convertible debenture due November 11, 2016. &nbsp;On September 9, 2014, the Company and the holder of the Convertible Debenture agreed to a transaction resulting in the conversion of the principal and accrued interest of the Convertible Debenture into 739,958 shares of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock, and the concurrent conversion of 639,159 of such shares of common stock into 3,500 shares of Series A Convertible Preferred Stock. &nbsp;For further details of this transaction see Note 5 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Convertible Debentures<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> herein.<br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In July 2014, the Company completed the sale of 640,000 shares of its common stock at the offering price of $6.25 per share. &nbsp;The net proceeds from this sale totaled approximately $3,673,000. &nbsp;See Note 6, <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Shareholders<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font> Equity <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Sale of Common Stock<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> for additional information regarding this transaction.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In October 2015, the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Company entered into an At Market Issuance Sales Agreement (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Agreement<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) with National Securities Corporation (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>National<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) to create an at-the-market equity program under which it may sell up to $10,000,000 worth of its common stock (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Shares<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) from time to time through National, as sales agent. The Company has no obligation to sell any of the Shares, and may at any time suspend offers under the Agreement or terminate the Agreement. The Shares will be issued pursuant to the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s previously filed registration statement that was declared effective by the Securities and Exchange Commission (the "SEC") on September 18, 2015. As of October 31, 2015, no Shares have been sold under the Agreement.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">During the year ended October 31, 2015, cash provided by operating activities was approximately $1,363,000.&nbsp; Cash provided by investing activities was approximately $45,000, which resulted from the proceeds on maturity&nbsp;of certificates of deposit totaling $3,000,000 which was offset by the purchase of certificates of deposit totaling $2,900,000 and the purchase of property and equipment of approximately $55,000.&nbsp; Our cash used in financing activities was approximately $401,000, which resulted from approximately $445,000 for the repurchase of 92,232 shares of our common stock and the cancellation of warrants to purchase 16,000 shares of our common stock, offset by the proceeds from exercise of stock options of approximately $45,000. &nbsp;As a result, our cash, cash equivalents, and short-term investments at October 31, 2015 increased approximately $908,000 to approximately $6,769,000 from approximately $5,861,000 at the end of fiscal year 2014.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">Based on currently available information as of December 21, 2015, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to enable us to continue our business activities for at least 12 months.&nbsp; However, our projections of future cash needs and cash flows may differ from actual results. If current cash on hand, cash equivalents, short term investments and cash that may be generated from our business operations are insufficient to satisfy our liquidity requirements, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&nbsp; The sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in the downward adjustment of the exercise or conversion price of our outstanding securities. We can give no assurance that we will generate sufficient cash flows in the future to satisfy our liquidity requirements or sustain future operations, or that other sources of funding, such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&nbsp; If we cannot obtain such funding if needed or if we cannot sufficiently reduce operating expenses, we would need to curtail or cease some or all of our operations.&nbsp;</font></p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6767688400">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
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<td class="text"><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px;"><br />2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration: underline;">SUMMARY&nbsp;OF&nbsp;SIGNIFICANT&nbsp;ACCOUNTING&nbsp;POLICIES</font></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px" align="justify"><u>Basis of Presentation</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">The consolidated financial statements include the accounts of ITUS Corporation and its wholly owned subsidiaries. &nbsp;All intercompany transactions have been eliminated.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;<u>Revenue Recognition</u> </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><u>Patent Licensing</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In certain instances, our past revenue arrangements have provided for the payment of contractually determined fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company.&nbsp;&nbsp;These arrangements typically include some combination of the following:&nbsp;&nbsp;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&nbsp;&nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&nbsp;&nbsp;Pursuant to the terms of these agreements, we had no further obligations. &nbsp;&nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><u>Display Technology Development and License Fees</u></p><br/><p style="font-size: 11pt; margin: 0px; text-indent: 48px;" align="justify"><font>We assessed the revenue guidance of Accounting Standards Codification (<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>ASC<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>) 605-25 <font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Multiple-Element Arrangements<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font> (<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>ASC 605-25<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>) to determine whether&nbsp;multiple deliverables in our arrangements with AUO represent separate units of accounting.&nbsp; Under the AUO License Agreements, we&nbsp;received initial development and&nbsp;license fees of $3 million, of aggregate development and license fees of up to $10 million.&nbsp; The additional $7 million in development and license fees were to be payable upon completion of certain conditions for the respective technologies.&nbsp; We determined that the transfer of the licensed patents and technology and the effort involved in completion of the conditions for the respective technologies represent a single unit of accounting for each technology.&nbsp; Accordingly, using a proportional performance method, during the third quarter of fiscal year 2011 we began recognizing the $3 million initial development and license fees over the estimated periods that we expected to complete the conditions for the respective&nbsp;technologies. Each of the license agreements also provided for the basis for royalty payments on future production, if any, by AUO to the Company, which we have determined represent separate units of accounting.&nbsp;&nbsp;We did not recognize any portion of the $7 million of additional development and license fees or any royalty income under the AUO License Agreements. </font></p><br/><p style="font-size: 11pt; margin: 0px; text-indent: 48px;" align="justify"><font>As a result of the AUO/E Ink Lawsuit described above we did not record any display technology development and license fee revenue during the period from the fourth quarter of fiscal 2012 through the second quarter of fiscal year 2014 due to uncertainty as to our remaining performance obligations, if any. &nbsp;Based on our assessment performed for the third quarter of fiscal 2014, we determined that we have no further performance obligations under the AUO License Agreements and accordingly we recognized display technology development and license fee revenue of approximately $1,187,000, representing the balance of the initial $3 million payment received from AUO.</font></p><br/><p style="font-size: 11pt; margin: 0px; text-indent: 48px;" align="justify"><font>On December 29, 2014, we settled our lawsuit against AUO and received gross proceeds of $9 million which was recognized as revenue in the first quarter of fiscal 2015 (see Note 1 <font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Business and Funding <font style="font-family: Arial Unicode MS,Times New Roman;">&#x2013;</font> Description of Business - AUO Lawsuit and Settlement <font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>).</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Inventor Royalties and Contingent Legal Fees</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Inventor royalties and contingent legal fees are expensed in the consolidated statements of operations in the period that the related revenues are recognized.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Anixa Development Expenses</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">Anixa development expenses are expensed in the consolidated statements of operations in the period incurred.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Fair Value Measurements</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">ASC 820 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Fair Value Measurements and Disclosures<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 820<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) defines fair value, establishes a framework for measuring fair value under GAAP, and expands disclosures about fair value measurements. &nbsp;In accordance with ASC 820, we have categorized our financial assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. &nbsp;If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Financial assets and liabilities recorded in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:</p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px" align="justify">Level 1 - Financial instruments whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which we have the ability to access at the measurement date.</p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px" align="justify">Level 2 - Financial instruments whose values are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. &nbsp;</p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px" align="justify">Level 3 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Financial instruments whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. &nbsp;These inputs reflect management<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s own assumptions about the assumptions a market participant would use in pricing the instrument. &nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2015:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td valign="bottom" width="192">&nbsp;</td>
     <td valign="bottom" width="90">&nbsp;</td>
     <td valign="bottom" width="18">&nbsp;</td>
     <td valign="bottom" width="84">&nbsp;</td>
     <td valign="bottom" width="18">&nbsp;</td>
     <td valign="bottom" width="77">&nbsp;</td>
     <td valign="bottom" width="15">&nbsp;</td>
     <td valign="bottom" width="104">&nbsp;</td>
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    <tr>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192" height="22"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Level 1</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="22"><p style="margin: 0px;" align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Level 2</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="22"><p style="margin: 0px;" align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Level 3</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15" height="22"><p style="margin: 0px;" align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Total</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192"><p style="font-size: 11pt; margin: 0px;">Money market funds <font style="font-family: Arial Unicode MS,Times New Roman;">&#x2013;</font> Cash &nbsp;</p><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;and cash equivalents</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px; padding-right: 4px;" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td>
    </tr>
    <tr>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192" height="42"><p style="font-size: 11pt; margin: 0px;">Certificates of deposit -</p><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Short term investments</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90" height="42"><p style="margin: 0px;" align="right">-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="42"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84" height="42"><p style="margin: 0px;" align="right"><font style="font-size: 11pt;">2,400,000</font></p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="42"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77" height="42"><p style="margin: 0px;" align="right">-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15" height="42"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104" height="42"><p style="font-size: 11pt; margin: 0px;" align="right">2,400,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192"><p style="margin: 0px;" align="justify">&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="justify">Total financial assets</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90"><p style="margin: 0px;" align="right">&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">$ 2,400,000</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104"><p style="margin: 0px;" align="right">&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,867,967</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2014:</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="192" valign="bottom"> </td>
     <td width="90" valign="bottom"> </td>
     <td width="18" valign="bottom"> </td>
     <td width="84" valign="bottom"> </td>
     <td width="18" valign="bottom"> </td>
     <td width="77" valign="bottom"> </td>
     <td width="15" valign="bottom"> </td>
     <td width="104" valign="bottom"></td>
    </tr>
    <tr>
     <td width="192" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;</p></td>
     <td width="90" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Level 1</p></td>
     <td width="18" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="center"><br /></p></td>
     <td width="84" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Level 2</p></td>
     <td width="18" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="center"><br /></p></td>
     <td width="77" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Level 3</p></td>
     <td width="15" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="center"><br /></p></td>
     <td width="104" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Total</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="192" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Money market funds <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Cash &nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;and cash equivalents</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="84" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="77" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td width="15" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="104" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td>
    </tr>
    <tr>
     <td width="192" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Certificates of deposit -</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Short term investments</p></td>
     <td width="90" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right">-</p></td>
     <td width="18" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="84" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">2,500,000</font></p></td>
     <td width="18" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="77" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right">-</p></td>
     <td width="15" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="104" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">2,500,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="192" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="justify"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">Total financial assets</p></td>
     <td width="90" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td width="84" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;2,500,000</p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="77" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td width="15" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="104" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,655,964</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2015:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="228">&nbsp;</td>
     <td width="28">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="86">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="87">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="54"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 1</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="51"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 2</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="100"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 3</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="102"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Total</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="margin: 0px; line-height: 0.05pt;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="86"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="87"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">Patent acquisition obligation</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;$</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="86"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,688,187</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">$&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="87"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,688,187</p></td>
    </tr>

  </table><br/><p style="font-size: 11pt; margin: 0px; text-indent: 48px;" align="justify">The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2014:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="228">&nbsp;</td>
     <td width="28">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="86">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="87">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="54"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 1</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="51"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 2</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="100"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 3</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="102"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Total</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="margin: 0px; line-height: 0.05pt;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="86"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="87"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">Patent acquisition obligation</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">$&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="86"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,236,281</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">$&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="87"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,236,281</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table sets forth a summary of the changes in the fair value of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s Level 3 financial liabilities that are measured at fair value on a recurring basis:</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="485" valign="bottom"> </td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" align="right" valign="bottom">&nbsp; <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="center">For the two <br />years ended <br />October 31, <br />2015</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify"><u>Patent acquisition obligation:</u></p></td>
     <td> </td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right"> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:6px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Balance October 31, 2013</p></td>
     <td valign="bottom"><font style="FONT-SIZE:11pt">$</font></td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Initial fair value</p></td>
     <td> </td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,850,511</p></td>
    </tr>
    <tr>
     <td width="485" height="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Accretion of interest on patent obligation</p></td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom">&nbsp; </td>
     <td width="109" height="8" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385,770</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Balance October 31, 2014</p></td>
     <td> </td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,236,281</p></td>
    </tr>
    <tr>
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Accretion of interest on patent obligation</p></td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom">&nbsp; </td>
     <td width="109" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451,906</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Balance October 31, 2015</p></td>
     <td style="BORDER-BOTTOM:#000000 3px double"><font size="3">$</font></td>
     <td width="109" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,688,187</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Our non-financial assets that are measured on a non-recurring basis include our property and equipment which are measured using fair value techniques whenever events or changes in circumstances indicate a condition of impairment exists. &nbsp;The estimated fair value of prepaid expenses, accounts payable and accrued expenses approximates their individual carrying amounts due to the short term nature of these measurements. &nbsp;Cash and cash equivalents are stated at carrying value which approximates fair value.</p><br/><p style="FONT-SIZE:11pt; PADDING-BOTTOM:0px; MARGIN:0px; TEXT-INDENT:0px" align="justify"><u>Cash and Cash Equivalents</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Cash equivalents consists of highly liquid, short term investments with original maturities of three months or less when purchased.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Short-term Investments</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">At October 31, 2015 and 2014, we had certificates of deposit with maturities greater than 90 days when acquired of $2,400,000 and $2,500,000, respectively, that were classified as short-term investments and reported at fair value. &nbsp;&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Patents</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Our only identifiable intangible assets are patents and patent rights. &nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. &nbsp;Patent acquisition costs capitalized during the years ended October 31, 2015 and 2014, was approximately $-0- and $3,036,000, respectively. &nbsp;We recorded patent amortization expense of approximately $325,000 and $314,000 during the years ended October 31, 2015 and 2014, respectively.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Investment Securities</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">We classify our investment securities as available-for-sale. &nbsp;Available-for-sale securities are recorded at fair value. &nbsp;Unrealized gains and losses, net of the related tax effect, on available-for-sale securities are excluded from earnings and are reported as a component of accumulated other comprehensive income (loss) until realized. &nbsp;Realized gains and losses from the sale of available-for-sale securities are determined on a specific identification basis. &nbsp;Dividend and interest income are recognized when earned.<br /></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">We monitor the value of our investments for indicators of impairment, including changes in market conditions and the operating results of the underlying investment that may result in the inability to recover the carrying value of the investment. &nbsp;&nbsp;&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Convertible Instruments</u> </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company accounts for hybrid contracts that feature conversion options in accordance with applicable generally accepted accounting principles (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>GAAP<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>).&nbsp; ASC &nbsp;815 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Derivatives and Hedging Activities,<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 815<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b)&nbsp;the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c)&nbsp;a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company accounts for convertible instruments, when the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, in accordance with ASC 470-20 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Debt with Conversion and Other Options<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 470-20<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). Under ASC 470-20, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company accounts for convertible instruments (when the Company has determined that the embedded conversion options should be bifurcated from their host instruments) in accordance with ASC 815.&nbsp;&nbsp;Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract are allocated to the fair value of the derivative. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The conversion features of the convertible debentures issued in January 2013 and November 2013 qualified as embedded derivative instruments and were bifurcated from the host convertible debentures.&nbsp; Derivative liabilities are initially recorded at fair value and are then re-valued at each reporting date, with changes in fair value recognized in earnings during the reporting period.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Common Stock Purchase Warrants</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company classifies as equity any contracts that (i)&nbsp;require physical settlement or net-share settlement or (ii) provides a choice of net-cash settlement or settlement in the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s own shares (physical settlement or net-share settlement)&nbsp;providing that such contracts are indexed to the Company's own stock as defined in ASC 815-40 "Contracts in Entity's Own Equity". The Company classifies as assets or liabilities any contracts that (i)&nbsp;require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s control) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement).&nbsp;&nbsp;The Company assesses classification of common stock purchase warrants and other free standing derivatives at each reporting date to determine whether a change in classification between assets and liabilities or equity is required.<br /><br /></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Income Taxes</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">We recognize deferred tax assets and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. &nbsp;A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px"><u>Stock-Based Compensation</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">We maintain stock equity incentive plans under which we may grant non-qualified stock options, incentive stock options, stock appreciation rights, stock awards, performance and performance-based awards, or stock units to employees, non-employee directors and consultants.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Stock Option Compensation Expense</u> </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We account for stock options granted to employees and directors using the accounting guidance in ASC 718 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Stock Compensation<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 718<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;In accordance with ASC 718, we estimate the fair value of service based options and performance based options on the date of grant, using the Black-Scholes pricing model. &nbsp;For options vesting if the trading price of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock achieves a defined target, we use a Monte Carlo simulation in estimating the fair value at grant date. We recognize compensation expense for stock option awards over the requisite or implied service period of the grant. &nbsp;With respect to performance based awards, compensation expense is recognized when the performance target is deemed probable. &nbsp;We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $2,192,000 and $2,128,000, during the years ended October 31, 2015 and 2014, respectively. </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Included in stock-based compensation cost for employees and directors during the years ended October 31, 2015 and 2014 was approximately $2,092,781 and $1,426,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but not yet vested. &nbsp;As of October 31, 2015, there was unrecognized compensation cost related to non-vested stock options granted to employees and directors, related to service based options of approximately $432,000 which will be recognized over a weighted-average period of 1.1 years. </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We account for stock options granted to consultants using the accounting guidance included in ASC 505-50 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Equity-Based Payments to Non-Employees<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 505-50<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;In accordance with ASC 505-50, we estimate the fair value of service based stock options and performance based options at each reporting period, using the Black-Scholes pricing model. &nbsp;For options vesting if the trading price of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock achieves a defined target we estimate the fair value at each reporting period using a Monte Carlo simulation. &nbsp;We recognize compensation expense for service based stock options and options subject to market conditions over the requisite or implied service period of the grant. &nbsp;For performance based awards, compensation expense is recognized when the performance target is achieved.<br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We recorded consulting expense, related to stock options granted to consultants, during the years ended October 31, 2015 and 2014 of approximately $484,000 and $1,022,000, respectively. Stock-based consulting expense for the years ended October 31, 2015 and 2014 includes approximately $484,000 and $964,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of October 31, 2015, there was no unrecognized consulting expense related to non-vested stock options granted to consultants. &nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Fair Value Determination</u> &nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We use the Black-Scholes pricing model in estimating the fair value of stock options which vest over a specific period of time or upon achieving performance targets. &nbsp;To determine the weighted average fair value of stock options on the date of grant, employees and directors are included in a single group. &nbsp;The fair value of stock options granted to consultants is determined on an individual basis. &nbsp;The stock options we granted during the year ended October 31, 2015 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months. The stock options we granted during the year ended October 31, 2014 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months, options with 5-year terms which vest immediately and options with 10-year terms which vest upon achievement of performance milestones. &nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following weighted average assumptions were used in estimating the fair value of stock options granted during the years ended October 31, 2015 and 2014: </p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="280" valign="bottom"> </td>
     <td width="78" valign="bottom"> </td>
     <td width="78" valign="bottom"></td>
    </tr>
    <tr>
     <td valign="bottom"> </td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">For the Year <br />Ended October 31,</font></p></td>
    </tr>
    <tr>
     <td valign="bottom"> </td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">2015</font></p></td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">2014</font></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Weighted average fair value at grant date</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$3.09</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$5.75</p></td>
    </tr>
    <tr>
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Valuation assumptions:</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected life ( years) </p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;&nbsp;5.75</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">5.80</p></td>
    </tr>
    <tr>
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected volatility</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">117.8%</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">115.3%</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risk-free interest rate</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;2.01%</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;1.82%</p></td>
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    <tr>
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected dividend yield</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">0</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">0</p></td>
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  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The expected term of stock options represents the weighted average period the stock options are expected to remain outstanding. &nbsp;We use the simplified method to determine expected term. &nbsp;The simplified method was adopted since we do not believe that historical experience is representative of future performance because of the impact of the changes in our operations and the change in terms from historical options which vested immediately to terms including vesting periods of up to three years. &nbsp;Under the Black-Scholes pricing model, we estimated the expected volatility of our shares of common stock based upon the historical volatility of our share price over a period of time equal to the expected term of the options. &nbsp;We estimated the risk-free interest rate based on the implied yield available on the applicable grant date of a U.S. Treasury note with a term equal to the expected term of the underlying grants. &nbsp;We made the dividend yield assumption based on our history of not paying dividends and our expectation not to pay dividends in the future.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Under ASC 718, the amount of stock-based compensation expense recognized is based on the portion of the awards that are ultimately expected to vest. &nbsp;Accordingly, if deemed necessary, we reduce the fair value of the stock option awards for expected forfeitures, which are forfeitures of the unvested portion of surrendered options. &nbsp;Based on our historical experience and future expectations, we have not reduced the amount of stock-based compensation expenses for anticipated forfeitures.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We will reconsider use of the Black-Scholes pricing model if additional information becomes available in the future that indicates another model would be more appropriate. &nbsp;If factors change and we employ different assumptions in the application of ASC 718 in future periods, the compensation expense that we record under ASC 718 may differ significantly from what we have recorded in the current period.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Net&nbsp;Loss&nbsp;Per&nbsp;Share of Common Stock</u> </p><br/><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px; text-indent: 48px;" align="justify">In accordance with ASC 260, <font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Earnings Per Share<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>, basic net loss per common share (<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Basic EPS<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>) is computed by dividing net loss by the weighted average number of common shares outstanding. &nbsp;Diluted net loss per common share (<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Diluted EPS<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>) is computed by dividing net loss by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. &nbsp;Diluted EPS for all years presented is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. &nbsp;For this reason, excluded from the calculation of Diluted EPS for the years ended October 31, 2015 and 2014, were options to purchase 2,672,471 and 3,002,550 shares, respectively, warrants to purchase 1,028,931 shares and 1,044,931 shares, respectively, preferred stock convertible into 739,958 shares.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Use of Estimates</u> </p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. &nbsp;Estimates and assumptions are used for, but not limited to, determining stock-based compensation, asset impairment evaluations, tax assets and liabilities, license fee revenue, the allowance for doubtful accounts, depreciation lives and other contingencies. &nbsp;Actual results could differ from those estimates.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px"><u>Effect of Recently Issued Pronouncements</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2014-09<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), Revenue from Contracts with Customers. &nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &nbsp;This standard update is effective for&nbsp;interim and annual&nbsp;reporting periods beginning after December 15,&nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&nbsp;and related disclosures.<br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In June 2014, the FASB issued Accounting Standards Update 2014-12 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2014-12<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), Compensation <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Stock Compensation. &nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&nbsp;and related disclosures.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In August 2014, the FASB issued Accounting Standards Update 2014-15 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2014-15<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;This amendment requires management to assess an entity<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In April 2015, the FASB issued Accounting Standards Update 2015-03 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2015-03<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. Adoption of this standard is required for interim and annual periods beginning after December 15, 2015 and is to be applied retrospectively. We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&nbsp;and related disclosures.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px">In November 2015, the FASB issued Accounting Standards Update 2015-17 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2015-17<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&nbsp;and related disclosures.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Concentration of Credit Risks</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Financial instruments that potentially subject us to concentrations of credit risk are cash equivalents, short-term investments and accounts receivable. &nbsp;Cash equivalents are primarily highly rated money market funds. Short-term investments are certificates of deposit within federally insured limits. Where applicable, management reviews our accounts receivable and other receivables for potential doubtful accounts and maintains an allowance for estimated uncollectible amounts. Our policy is to write-off uncollectable amounts at the time it is determined that collection will not occur. </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Three licensees accounted for 53%, 37% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2015. Four licensees accounted for 22%, 16%, 14% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2014.<br /></p><br/><span></span>
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<html>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6767635968">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentsScheduleAbstract', window );"><strong>Investments Schedule [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentTextBlock', window );">Investment [Text Block]</a></td>
<td class="text"><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px;"><br />3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration: underline;">INVESTMENTS</font></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Short-term Investments </u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">At October 31, 2015 and October 31, 2014, we had of certificates of deposit totaling $2,400,000 and $2,500,000, respectively. &nbsp;Terms of the certificates of deposit generally range from greater than three months to nine months.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Investment in Videocon </u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Our investment in Videocon was classified as an "available-for-sale security" and reported at fair value, with unrealized gains and losses excluded from operations and reported as component of accumulated other comprehensive income (loss) in shareholders<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font> equity. &nbsp;The original cost basis of $16,200,000 was determined using the specific identification method. &nbsp;The fair value of the Videocon GDRs is based on the price on the Luxembourg Stock Exchange, which price is based on the underlying price of Videocon<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s equity shares which are traded on stock exchanges in India with prices quoted in rupees. &nbsp;&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">ASC 320 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Investments-Debt and Equity Securities<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 320<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) and SEC guidance on other than temporary impairments of certain investments in equity securities requires an evaluation to determine if the decline in fair value of an investment is either temporary or other than temporary. &nbsp;Unless evidence exists to support a realizable value equal to or greater than the carrying cost of the investment, an other than temporary impairment should be recorded. &nbsp;At each reporting period we assessed our investment in Videocon to determine if a decline that is other than temporary has occurred. &nbsp;In evaluating our investment in Videocon during fiscal year 2014, we determined that based on both the duration and the continuing magnitude of the market price decline compared to the carrying cost, a write-down of the investment of approximately $63,000 should be recorded and a new cost basis of approximately $4,135,000 should be established. &nbsp;On August 29, 2014, we exchanged the Videocon GDRs for 800,000 shares of our common stock, see Note 1 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Business and Funding <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Description of Business <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Unwinding of Business Relationship and Interest with Videocon<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>. &nbsp;On a cumulative basis, we have recorded other than temporary impairments in our investment in Videocon GDRs of approximately $12,065,000. &nbsp;&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The fair value of the Videocon GDRs on August 29, 2014, the date of disposition, was follows:</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="356" valign="bottom"> </td>
     <td width="15" valign="bottom"> </td>
     <td width="96" valign="bottom"></td>
    </tr>
    <tr>
     <td valign="bottom"> </td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">Investment in <br />Videocon</font></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="356" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">Fair Value as of October 31, 2013</p></td>
     <td width="15" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px" align="justify">&nbsp;<font style="FONT-SIZE:11pt">$</font></p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp; &nbsp;4,197,341</p></td>
    </tr>
    <tr>
     <td width="356" height="17" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;Other than temporary impairment</p></td>
     <td width="15" height="17" style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="justify">&nbsp;</p></td>
     <td width="96" height="17" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62,825)</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="356" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="justify"><font style="FONT-SIZE:11pt">Fair value of Videocon GDRs on date of disposition</font></p></td>
     <td width="15" style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"><font style="FONT-SIZE:11pt">&nbsp;</font>$</td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;4,134,516</p></td>
    </tr>

  </table><br/><span></span>
</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for investments, including all tables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 6<br> -Section 10<br> -Paragraph (c)<br> -Subparagraph (1)<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6767722432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ACCOUNTS PAYABLE AND ACCRUED EXPENSES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PayablesAndAccrualsAbstract', window );"><strong>Payables and Accruals [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock', window );">Accounts Payable and Accrued Liabilities Disclosure [Text Block]</a></td>
<td class="text"><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px;"><br />4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration: underline;">ACCOUNTS PAYABLE AND ACCRUED EXPENSES</font></p><br/><p style="FONT-SIZE:11pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align="justify">Accounts payable and accrued liabilities consist of the following as of:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td valign="bottom" width="307">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td align="right" valign="bottom" width="94">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td align="right" valign="bottom" width="94">&nbsp;</td>
    </tr>
    <tr>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="5" align="right" valign="bottom"><p align="center"><font style="font-size: 11pt;">October 31,</font></p></td>
    </tr>
    <tr>
     <td valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid;" colspan="2" align="right" valign="bottom"><p align="center"><font style="font-size: 11pt;">2015</font></p></td>
     <td valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid;" colspan="2" align="right" valign="bottom"><p align="center"><font style="font-size: 11pt;">2014</font></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307"><p style="font-size: 11pt; margin: 0px;">Accounts payable</p></td>
     <td><font style="font-size: 11pt;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;374,703</p></td>
     <td>&nbsp;</td>
     <td><font style="font-size: 11pt;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;540,179</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307" height="16"><p style="font-size: 11pt; margin: 0px;">Payroll and related expenses</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94" height="16"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94" height="16"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372,753</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307"><p style="font-size: 11pt; margin: 0px;">Accrued litigation expense, consulting and other</p><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;professional fees</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320,493</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307" height="15"><p style="font-size: 11pt; margin: 0px;">Accrued other</p></td>
     <td style="border-bottom: #000000 1px solid;" valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94" height="15"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,062</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94" height="15"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,001</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307"><p style="margin: 0px;">&nbsp;<font style="color: #000000; font-family: 'times new roman'; font-size: 14.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: none !important; float: none; background-color: #cceeff;">Total</font></p></td>
     <td style="border-bottom: #000000 3px double;"><font style="font-size: 11pt;">$</font></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;380,765</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 3px double;"><font style="font-size: 11pt;">$</font></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">1,249,426</p></td>
    </tr>

  </table><br/><span></span>
</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a),20,24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<DOCUMENT>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6767635424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">Debt Disclosure [Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px"><br />5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>CONVERTIBLE DEBENTURES</u></p><br/><p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:16px"><u>Convertible Debenture due January 2015</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In January 2013, the Company received aggregate gross proceeds of $1,765,000 from the issuance of 8% convertible debentures due January 25, 2015 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Convertible Debenture due January 2015<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), of which $250,000 was received from our current President, Chief Executive Officer and director, and two other directors of the Company.&nbsp;The debentures&nbsp;paid interest quarterly and&nbsp;were convertible into shares of our common stock at a conversion price of $3.75 per share on or before January 25, 2015.&nbsp;The embedded conversion feature&nbsp;had certain weighted average anti-dilution protection provisions which would be triggered if the Company issues its common stock, or certain common stock equivalents, (as defined) at a price below $3.75 per share.&nbsp; The Company had the option to pay any interest on the debentures in common stock based on the average of the closing prices of&nbsp; our common stock for the 10 trading days immediately preceding the interest payment date.&nbsp;The Company also had the option to pay any interest on the debentures with additional debentures.&nbsp; The Company&nbsp;had the right to&nbsp;prepay the debentures at any time without penalty upon 30 days prior notice but only if the sales price of the common stock is at least $7.50 for 20 trading days in any 30-day trading period ending no more than 15 days before the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s prepayment notice.&nbsp; In conjunction with the issuance of the debentures, the Company issued warrants (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Convertible Debenture Warrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) to purchase 235,310 shares of its common stock.&nbsp; Each warrant grants the holder the right to purchase one share of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock at the purchase price of $7.50 per share on or before January 25, 2016.&nbsp;The Convertible Debenture Warrant may be exercised on a cashless basis only if there is not an effective registration statement covering such shares.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company determined, based upon authoritative guidance, that the conversion feature embedded within the Convertible Debenture due January 2015 should be valued separately and bifurcated from the host instrument and accounted for as a free-standing derivative liability and that the Convertible Debenture Warrant should also be valued and accounted for separately as an equity instrument.&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company determined the fair value of each of the three elements included within the Convertible Debenture due January 2015.&nbsp; The debenture portion (without the conversion feature) bearing interest at 8% was determined to be a debt instrument with a fair value of $1,490,000.&nbsp; The embedded conversion feature was determined to be a derivative liability with a fair value of $1,180,000.&nbsp; The Convertible Debenture Warrant was determined to be an equity instrument with a fair value of $370,000.&nbsp; The Company determined the fair value of each of these instruments based upon the assumptions and methodologies as discussed below.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Since the Convertible Debenture Warrant was determined to be an equity instrument, the Company first computed the relative fair value of the Convertible Debenture due January 2015 (including the value of its conversion feature) with a fair value of $2,670,000 and the Convertible Debenture Warrant with a fair value of $370,000.&nbsp;&nbsp; Accordingly, the relative fair value of the Convertible Debenture Warrant and the Convertible Debenture due January 2015 (including the value of its conversion feature) was determined to be $214,819 and $1,550,181, respectively.&nbsp; Then, from the relative fair value of the Convertible Debenture due January 2015, the Company deducted in full the fair value of the embedded conversion feature of $1,180,000.&nbsp;&nbsp; The discount of $1,394,819 applied to the face value of the Convertible Debenture due January 2015 consists of the sum of the relative fair value of the Convertible Debenture Warrant of $214,819 and the full value of the bifurcated conversion option derivative liability of $1,180,000.&nbsp; The Convertible Debenture due January 2015 was recorded at a net value of $370,181, representing its face value of $1,765,000, less aggregate discounts for the derivative liability and warrant of $1,394,819, as summarized in the table below.</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="256" valign="bottom"> </td>
     <td width="8" valign="bottom"> </td>
     <td width="87" valign="bottom"> </td>
     <td width="6" valign="bottom"> </td>
     <td width="6"> </td>
     <td width="96" valign="bottom"></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><font style="FONT-SIZE:11pt">Face value of Convertible Debenture due January 2015</font></p></td>
     <td width="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="87" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right">&nbsp;</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">$</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">&nbsp;</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">1,765,000</p></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Fair value of embedded conversion feature</p></td>
     <td width="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">$</p></td>
     <td width="87" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">1,180,000</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Relative fair value of Convertible Debenture Warrant</p></td>
     <td width="8" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="87" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">214,819</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Discount</p></td>
     <td width="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">$</p></td>
     <td width="87" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">1,394,819</p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">(1,394,819)</p></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Proceeds attributable to the Convertible Debenture due January 2015</p></td>
     <td width="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="87" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br />&nbsp;</p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">370,181</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Accordingly, the Company accounted for the full amount of the discount as an offset to the Convertible Debenture due January 2015, amortizable under the effective interest method over the term of the debenture. &nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due January 2015 using a Monte Carlo simulation, with the observable assumptions as provided in the table below.&nbsp;The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&nbsp;</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="363"> </td>
     <td width="13"> </td>
     <td width="83"></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;&nbsp;</p></td>
     <td width="97" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">January 25,</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock price on valuation date</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">5.25</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Conversion price</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">3.75</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock premium for liquidity</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">57%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Term (years)</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">2.00</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expected volatility</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">110%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Weighted average risk-free interest rate</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">0.3%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Trials</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">100,000</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Aggregate fair value</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">1,180,000</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company calculated the fair value of the Convertible Debenture Warrant issued on January 25, 2013 using the Black-Scholes option pricing model with the following assumptions:&nbsp;</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="363"> </td>
     <td width="13"> </td>
     <td width="76"></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="90" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">January 25,</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="center"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock price on valuation date</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">5.25</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Exercise price</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">7.50</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock premium for liquidity</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">38%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Term (years)</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">3.00</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Warrant exercise trigger price</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">41%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expected volatility</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">95%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Weighted average risk-free interest rate</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">0.4%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Number of warrants</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;5,882,745</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Aggregate fair value</p></td>
     <td width="13" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="76" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;370,000</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company determined the fair value of the Convertible Debenture due January 2015 by preparing an analysis of discounted cash flows, using a discount rate of 18.6%, which the Company deemed appropriate given the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s current risk scenarios.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In connection with the Convertible Debenture due January 2015, the Company provided compensation to the placement agent consisting of a cash fee of $41,400 and a warrant for the purchase of 11,041 shares of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Placement Agent Warrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>).&nbsp; The terms of the Placement Agent Warrant are identical to the terms of the Convertible Debenture Warrant, and using Black-Scholes, upon issuance, was determined to have a fair value of $17,360.&nbsp;Assumptions for the valuation of the Placement Agent Warrant were identical to those provided above for the Convertible Debenture Warrant.&nbsp; In addition, issuance costs included legal fees of approximately $25,000.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The sum of the issuance costs was $83,760, and this cost was allocated as provided below:</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="169"> </td>
     <td width="14"> </td>
     <td width="177"> </td>
     <td width="12"> </td>
     <td width="19"> </td>
     <td width="67"></td>
    </tr>
    <tr>
     <td width="169" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">Attributable to:</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">&nbsp;</p></td>
     <td width="177" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">Accounting Treatment</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">&nbsp;</p></td>
     <td width="87" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="center"><br /></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">Amount</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">The embedded conversion feature (derivative)</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expensed as incurred</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="19" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">55,999</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">The 8% Convertible Debenture Warrant</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Charged to additional paid-in capital</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="19" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">10,194</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="19" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="top"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">The 8% Convertible Debenture</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="top"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
     <td width="19" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
     <td width="67" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">17,567</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Total</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="19" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="67" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">83,760</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In connection with the issuance of the Convertible Debenture due January 2015, on April 24, 2013, the Company prepared and filed a registration statement registering for resale the shares of its common stock which may be issued upon the conversion of the debenture consistent with the terms and conditions of the registration rights agreement the Company entered into with the holders of the registrable shares listed above. The registration statement was declared effective by the SEC on June 19, 2013.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company has agreed to maintain the effectiveness of the registration statement through the earlier of three years from the date of the issuance of the Convertible Debenture due January 2015 or until Rule 144 of the Securities Act is available to the holders to allow them to sell all of their registrable securities thereunder.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">The derivative liability related to the embedded conversion feature was revalued at each reporting period as well as on the date of all conversions, as discussed, below.&nbsp; </font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">As of October 31, 2013, the Company determined the fair value of the derivative liability to be $540,000, and accordingly, during the year ended October 31, 2013, the Company recorded a gain on the change in the fair value of the derivative liability of approximately $475,000. &nbsp;&nbsp;&nbsp;As of October 31, 2014, the Company determined the fair value of the derivative liability to be $-0-, as the full value of the Convertible Debenture due January 2015 was converted and/or repaid in full during the year ended October 31, 2014 and accordingly, during the year ended October 31, 2014, the Company recorded a loss on the change in the fair value of the derivative of approximately $1,131,000. &nbsp;&nbsp;</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">As of October 31, 2013, the Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due January 2015 using a Monte Carlo simulation, with the observable assumptions as provided in the table below. &nbsp;The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. &nbsp;Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp; Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&nbsp;</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="380"> </td>
     <td width="13"> </td>
     <td width="67"></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="80" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="center"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">October 31,</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="center"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock price on valuation date</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Conversion price</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock premium for liquidity</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">42%</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Term (years)</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">1.25</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expected volatility</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">115%</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Weighted average risk-free interest rate</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">0.3%</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Trials</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">100,000</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Aggregate fair value</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px">$ &nbsp;540,000</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">The fair value of the derivative liability associated with the conversions and repayments of the Convertible Debenture due January 2015 was approximately $1,671,000 immediately prior to the conversions and repayments.</font><br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">As of April 30, 2014, the Convertible Debenture due January 2015 was extinguished in full.&nbsp;&nbsp;However, the Company needed to determine the fair value of the derivative liability for the embedded conversion feature immediately prior to the conversion, in order to determine the change in the fair value of the derivative for the period.&nbsp;The Company determined to measure the derivative immediately prior to the conversion at its intrinsic value, since this method most fairly measured the value of the derivative liability.&nbsp;The intrinsic value computation is provided below.&nbsp;&nbsp;</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="426"> </td>
     <td width="6"> </td>
     <td width="83"></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;&nbsp;</p></td>
     <td width="90" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">April 30,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">2014</p></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price used for valuation</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">8.50</p></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="left">266.68 shares issued per $1,000 face value</p></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment</p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="83" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">1,456,797</p></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">The amortization of debt discount related to the Convertible Debenture due January 2015 was approximately $-0- and $233,000, for the years ended October 31, 2015 and 2014, respectively.</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">During the year ended October 31, 2013, holders of $325,000 and $5,878 of principal and interest, respectively, of the Convertible Debenture due January 2015, converted their holdings into an aggregate of 86,671 and 805 shares of Common Stock.&nbsp; During the year ended October 31, 2014, holders of $1,240,000 and $9,000 of principal and interest, respectively, of the Convertible Debenture due January 2015, converted their holdings into an aggregate of 330,683 and 1,185 shares of common stock and holders of $200,000 of principal of the Convertible Debenture due January 2015 consented to prepayment (without conversion) of obligations to them under the instrument<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s prepayment provisions. During the year ended October 31, 2014, in connection with these conversions and prepayments, the Company recorded losses on extinguishment of debt in the amount of $482,915.&nbsp; These losses represent the excess of the fair value of Common Stock on the date of conversion over the net book value of the debt on the date of conversion.&nbsp; Since the conversion feature on the Convertible Debenture due January 2015 was determined to be a derivative liability, the net book value includes both the value of the debt, net of discount, and the portion of the derivative liability related to its conversion feature. &nbsp;</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">The loss on extinguishment of debt was calculated as follows:</font></p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="372"> </td>
     <td width="9"> </td>
     <td width="79"></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="88" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">Year Ended</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">October 31,</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">2014</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Face value of debt converted</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="79" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;&nbsp;1,440,000</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Less: discount</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="79" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;(658,232)</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Plus: fair value of derivative liability</p></td>
     <td width="9" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="79" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;&nbsp;1,670,704</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Net book value of debt converted</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="79" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;&nbsp;2,452,472</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Fair value of common stock issued</p></td>
     <td width="9" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="79" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;&nbsp;2,935,387</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Loss on extinguishment of debt</p></td>
     <td width="9" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="79" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;&nbsp;(482,915)</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><u>Convertible Debenture due November 2016</u> &nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In November 2013, the Company received aggregate gross proceeds of $3,500,000 from the issuance of 6% convertible debentures due November 11, 2016 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Convertible Debenture due November 2016<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>).&nbsp;The debentures paid interest annually and were convertible into shares of our common stock at a conversion price of $4.73 per share on or before November 11, 2016.&nbsp; The embedded conversion feature had certain weighted average anti-dilution protection provisions which would be triggered if the Company issues its common stock, or certain common stock equivalents, (as defined) at a price below $3.55 per share.&nbsp; The Company had the option to pay any interest on the debentures in common stock based on 90% of the volume weighted average closing sales price of our common stock for the 30 trading days immediately preceding the interest payment date. &nbsp;In conjunction with the issuance of the debentures, the Company issued warrants (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Convertible Debenture Warrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) to purchase 369,979 shares of its common stock.&nbsp; Each warrant granted the holder the right to purchase one share of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock at an initial fixed purchase price of $9.46 per share (see discussion below of amendment to warrant exercise price) on or before November 11, 2016.&nbsp; The Convertible Debenture Warrant may be exercised on a cashless basis only if there is not an effective registration statement covering such shares.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company determined, based upon authoritative guidance, that the conversion feature embedded within the Convertible Debenture due November 2016 should be valued separately and bifurcated from the host instrument and accounted for as a free-standing derivative liability and that the Convertible Debenture Warrant should also be valued and accounted for separately as an equity instrument.&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company determined the fair value of each of the three elements included within the Convertible Debenture due November 2016.&nbsp;The debenture portion (without the conversion feature) bearing interest at 6% was determined to be a debt instrument with a fair value of $2,710,000.&nbsp; The embedded conversion feature was determined to be a derivative liability with a fair value of $1,570,000.&nbsp;The Convertible Debenture Warrant was determined to be an equity instrument with a fair value of $740,000.&nbsp; The Company determined the fair value of each of these instruments based upon the assumptions and methodologies as discussed below.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Since the Convertible Debenture Warrant was determined to be an equity instrument, the Company first computed the relative fair value of the Convertible Debenture due November 2016 (including the value of its conversion feature) with a fair value of $4,280,000 and the Convertible Debenture Warrant with a fair value of $740,000.&nbsp;&nbsp; Accordingly, the relative fair value of the Convertible Debenture Warrant and the Convertible Debenture due November 2016 (including the value of its conversion feature) was determined to be $515,936 and $2,984,064, respectively.&nbsp; Then, from the relative fair value of the Convertible Debenture due November 2016, the Company deducted in full the fair value of the embedded conversion feature of $1,570,000.&nbsp;&nbsp;The discount of $2,085,936 applied to the face value of the Convertible Debenture due November 2016 consists of the sum of the relative fair value of the Convertible Debenture Warrant of $515,936 and the full value of the bifurcated conversion option derivative liability of $1,570,000.&nbsp; The Convertible Debenture due November 2016 was recorded at a net value of $1,414,064, representing its face value of $3,500,000, less aggregate discounts for the derivative liability and warrant of $2,085,936, as summarized in the table below.&nbsp;</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="351"> </td>
     <td width="11"> </td>
     <td width="83"> </td>
     <td width="8"> </td>
     <td width="11"> </td>
     <td width="101"></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Face value of Convertible Debenture due November 2016</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align="right">3,500,000</p></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Fair value of embedded conversion feature</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">1,570,000</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Relative fair value of Convertible Debenture Warrant</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="83" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">515,936</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Discount</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">2,085,936</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="101" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">(2,085,936)</p></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Proceeds attributable to the Convertible Debenture due November 2016</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="92" colspan="2" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="101" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align="right">1,414,064</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Accordingly, the Company accounted for the full amount of the discount as an offset to the Convertible Debenture due November 2016, amortizable under the effective interest method over the term of the debenture.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due November 2016 using a Monte Carlo simulation, with the observable assumptions as provided in the table below.&nbsp;The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.&nbsp;</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="286"> </td>
     <td width="11"> </td>
     <td width="86"></td>
    </tr>
    <tr>
     <td width="384" colspan="3" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="97" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">November 11,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price on valuation date</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">5.00</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Conversion price</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">4.725</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Discount for lack of marketability</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">35.5%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Term (years)</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">3.00</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Expected volatility</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">102.8%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Weighted average risk-free interest rate</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">0.62%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Trials</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">100,000</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Aggregate fair value</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">1,570,000</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">&nbsp;The Company calculated the fair value of the Convertible Debenture Warrant issued on November 11, 2013 using a Black Scholes Model, with the observable assumptions as provided in the table below. The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s warrant value are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement:<br /></p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="286"> </td>
     <td width="11"> </td>
     <td width="86"></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="97" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">November 11,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price on valuation date</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">5.00</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Exercise price</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">9.45</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Discount for lack of marketability</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">22%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Term (years)</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">3.00</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Expected volatility</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">102.8%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Weighted average risk-free interest rate</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">0.6%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Number of warrants</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">369,979</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Aggregate fair value</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">740,000</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company determined the fair value of the Convertible Debenture due November 2016 by preparing an analysis of discounted cash flows, using a discount rate of 16.0%, which the Company deemed appropriate given the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s current risk scenarios. </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:60px">&nbsp;In connection with the issuance of the Convertible Debenture due November 2016, the Company incurred legal costs which were allocated as provided below:</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="164"> </td>
     <td width="9"> </td>
     <td width="131"> </td>
     <td width="9"> </td>
     <td width="11"> </td>
     <td width="57"></td>
    </tr>
    <tr>
     <td width="164" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;Attributable to:</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;</p></td>
     <td width="131" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">Accounting Treatment</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;</p></td>
     <td width="69" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">Amount</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">The embedded conversion feature (derivative)</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Expensed as incurred</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="57" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">8,593</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">The 8% Convertible Debenture Warrant</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Charged to additional paid-in capital</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="57" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">2,824</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="57" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="top"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">The 8% Convertible Debenture</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="top"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="57" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">7,739</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Total</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="57" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">19,156</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the issuance of the Convertible Debenture due November 2016, on February 7, 2014, the Company prepared and filed a registration statement registering for resale the shares of its common stock which may be issued upon the conversion of the debenture and exercise of the warrant consistent with the terms and conditions of the debenture agreement the Company entered into with the holders of the registrable shares listed above.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has agreed to maintain the effectiveness of the registration statement through the earlier of three years from the date of the issuance of the Convertible Debenture due November 2016 or until Rule 144 of the Securities Act is available to the holders to allow them to sell all of their registrable securities thereunder.&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">On September 9, 2014, holders of $3,500,000 and approximately $173,000 of principal and interest, respectively, of the Convertible Debenture due November 2016, converted their holdings into an aggregate of 739,958 shares of common stock the (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Conversion Common Stock<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>).&nbsp;&nbsp; In addition, the Company exchanged and reissued the warrant for the purchase of 369,979 shares of common stock, and upon the reissuance, lowered the exercise price to $7.75 per share.&nbsp;&nbsp; There was no change to the term of the warrant.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Immediately after the conversion, the holders exchanged 639,158 shares of the Conversion Common Stock into 3,500 shares of Series A Convertible Preferred Stock.&nbsp;Shortly thereafter, the Company retired and cancelled the 639,158 shares of common stock received in the exchange.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:42px" align="justify">In connection with this conversion, the Company recorded a loss on conversion/exchange of approximately $2,216,000, as summarized below. This loss represents the excess of the fair value of the common stock issued, net of the shares of common stock exchanged for the issuance of 3,500 shares of Series A Convertible Preferred Stock, plus the fair value of the Series A Convertible Preferred Stock, on the date of the conversion, over the net book value of the debt on the date of conversion. Since the conversion feature on the Convertible Debenture due November 2016 was determined to be a derivative liability, the net book value includes the value of the debt, net of debt discount and deferred issuance costs, plus accrued interest and the derivative liability related to the conversion feature (after being marked to market) on the conversion date, and the change in the fair value of the warrant on the date of the conversion.<font style="FONT-SIZE:12pt"> Because the conversion rate of the Series A Convertible Preferred Stock of $</font><font style="FONT-SIZE:12pt">4.73</font><font style="FONT-SIZE:12pt"> per share was less than the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s closing stock price on the date of this transaction, the Company determined that the Series A Convertible Preferred Stock contained a </font><font style="FONT-SIZE:12pt">beneficial</font><font style="FONT-SIZE:12pt"> conversion feature. The </font><font style="FONT-SIZE:12pt">beneficial</font><font style="FONT-SIZE:12pt"> conversion feature was recorded in additional paid-in-capital as a result of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s accumulated deficit</font><font style="FONT-SIZE:12pt">. </font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The loss on extinguishment of debt was determined as follows:&nbsp;</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="444">&nbsp;</td>
     <td width="11">&nbsp;</td>
     <td width="105">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="116"><p style="margin: 0px;" align="center">&nbsp;</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;"><font style="text-decoration: underline;">Securities extinguished:</font></p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="top" width="116"><p style="margin: 0px;">&nbsp;</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">Face value of convertible debenture converted</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">$</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">3,500,000</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Less: debt discount</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 0px;" align="right">(1,684,801)</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Less: deferred issuance costs</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 0px;" align="right">(7,739)</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444" height="4"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Plus: accrued interest</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11" height="4"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105" height="4"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">173,833</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Plus: fair value of derivative liability</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">1,032,241</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Plus: fair value of warrant exchanged in connection with the conversion</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">805,000</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Net book value of converted debenture, accrued interest, derivative &nbsp;&nbsp;</p><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">&nbsp;&nbsp;&nbsp;liability and warrant exchanged</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">3,818,534</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;"><font style="text-decoration: underline;">Securities issued in conversion/exchange:</font></p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">Fair value of 100,800 shares of common stock issued, net (739,958</p><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;&nbsp;&nbsp;shares of Conversion Common Stock issued, less 639,158 shares</p><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;&nbsp;&nbsp;exchanged for 3,500 shares of Series A Convertible Preferred Stock)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">617,400</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">Fair value of 3,500 shares of Series A Convertible Preferred Stock (based</p><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;&nbsp;&nbsp;on a stated value per share of $1,000 and a conversion rate of $4.73)</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">4,532,241</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">Fair value of warrant issued September 9, 2014</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">885,000</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 24px; margin: 0px; padding-right: 2px;">Subtotal of securities issued in conversion/exchange</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">6,034,641</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">(Loss) on conversion/exchange</p></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">$</p></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 0px;" align="right">(2,216,107)</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">On September 9, 2014, the Convertible Debenture due November 2016 was extinguished in full.&nbsp;&nbsp;The Company needed to determine the fair value of the derivative liability for the embedded conversion feature immediately prior to the conversion, in order to determine the change in the fair value of the derivative for the period.&nbsp;The Company determined to measure the derivative immediately prior to the conversion at its intrinsic value, since this method most fairly measured the value of the derivative liability.&nbsp;The intrinsic value computation is provided below.</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="265"> </td>
     <td width="17"> </td>
     <td width="101"></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="119" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">On September 9,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">2014</p></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price used for valuation</p></td>
     <td width="17" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">6.125</p></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="17" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">211.4 shares issued per $1,000 of face value</p></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px; TEXT-INDENT:-12px">Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion</p></td>
     <td width="17" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">4,532,241</p></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px">Less the face value of the convertible debenture</p></td>
     <td width="17" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="101" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">(3,500,000)</p></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Intrinsic value of the derivative conversion feature</p></td>
     <td width="17" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;$</p></td>
     <td width="101" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">&nbsp;1,032,241</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The derivative liability related to the embedded conversion feature was revalued at each reporting period as well as on the date of all conversions.&nbsp;The value of the derivative liability associated with the conversion of the Convertible Debenture due November 2016 during the year ended October 31, 2014 was approximately $1,032,000. As of October 31, 2014, the Company determined the fair value of the derivative liability to be $-0-, as the full value of the Convertible Debenture due November 2016 was converted in full during the year ended October 31, 2014. &nbsp;During the year ended October 31, 2014, the Company recorded gains on the change in fair value of the derivative liability of approximately $538,000.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company calculated the fair value of the embedded conversion feature of the Convertible Debenture due November 2016 using a Monte Carlo simulation. The significant unobservable inputs used in the fair value measurement of the reporting entity<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s embedded conversion feature are expected stock prices, levels of trading and liquidity of the Company stock, probability of default of the host instrument, and loss severity in the event of such default. &nbsp;Significant increases in the expected stock prices and expected liquidity would result in a significantly higher fair value measurement.&nbsp;Significant increases in either the probability or severity of default of the host instrument would result in a significantly lower fair value measurement.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The amortization of debt discount related to the Convertible Debenture due November 2016 for the years ended October 31, 2015 and 2014 was approximately $-0- and $401,000, respectively.</p><br/><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20,22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6763279808">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Stockholders' Equity Note [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text"><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px;"><br />6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration: underline;">SHAREHOLDERS<font style="font-family: Arial Unicode MS,Times New Roman;">&#x2019;</font> EQUITY</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Sale of Common Stock</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">On July 15, 2014, the Company, raised $4,000,000 of gross proceeds via a registered direct offering of its common stock to certain investors (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Investors<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Offering<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). The Company sold an aggregate of </font><font style="BACKGROUND-COLOR:rgb(255,255,255)">640,</font><font style="BACKGROUND-COLOR:rgb(255,255,255)">000 shares of common stock and warrants to purchase an aggregate of </font><font style="BACKGROUND-COLOR:rgb(255,255,255)">320,</font><font style="BACKGROUND-COLOR:rgb(255,255,255)">000 shares of common stock. The purchase price of one share of common stock and a warrant to purchase &frac12; of a share of common stock was $</font><font style="BACKGROUND-COLOR:rgb(255,255,255)">6</font><font style="BACKGROUND-COLOR:rgb(255,255,255)">.25. &nbsp;The warrants are exercisable immediately as of the date of issuance at an exercise price of $</font><font style="BACKGROUND-COLOR:rgb(255,255,255)">10.00 </font><font style="BACKGROUND-COLOR:rgb(255,255,255)">per share and expire five years from the date of issuance. The exercise price of the warrants is subject to customary adjustment in the case of stock splits, stock dividends, combinations of shares and similar recapitalization transactions. &nbsp;Under certain circumstances, the Company has the right to call for cancellation of warrants for which a notice of exercise has not yet been delivered for consideration equal to $.0</font><font style="BACKGROUND-COLOR:rgb(255,255,255)">25</font><font style="BACKGROUND-COLOR:rgb(255,255,255)"> per share. &nbsp;The Offering was effected as a takedown off the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s shelf registration statement on Form S-3, which became effective on April 25, 2014, pursuant to a prospectus supplement filed with the SEC.</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)"><u>Reverse Stock Split</u></font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:rgb(255,255,255)">On June 26, 2015, we effected a 1-for-25 reverse stock split (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Stock Split<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) of our issued common stock and preferred stock. &nbsp;Each shareholders<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font> percentage ownership and proportional voting power remained unchanged as a result of the Stock Split. &nbsp;All applicable share data, per share amounts and related information in the consolidated financial statements and notes thereto have been adjusted retroactively to give effect to the Stock Split. &nbsp;As a result of the Stock Split, the number of shares of our common stock and preferred stock authorized was also decreased by the same proportion as the outstanding shares.</font></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Common Stock Issuances</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">During the years ended October 31, 2015 and 2014, we issued 11,600 shares and 12,400 shares, respectively, of common stock to consultants for services rendered, pursuant to the 2010 Share Plan. &nbsp;We recorded consulting expense for the years ended October 31, 2015 and 2014 of approximately $46,000 and $85,000, respectively, for shares of common stock issued to consultants. &nbsp;</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:-6px"><u>Stock&nbsp;Option&nbsp;Plans</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">As of October 31, 2015, we have two stock option plans: the 2003 Share Plan and the 2010 Share Plan which were adopted by our Board of Directors on April 21, 2003 and July 14, 2010, respectively.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:0px; TEXT-INDENT:48px" align="justify">The 2003 Share Plan provides for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees and consultants. &nbsp;The maximum number of shares of common stock in the 2003 Share Plan was 2,800,000 shares. The 2003 Share Plan was administered by the Stock Option Committee through June 2004, from June 2004 through July 2010, by the Board of Directors, from July 2010 through August 2012, by the Stock Option Committee, from August 2012 through November 2012, by the Executive Committee of the Board of Directors and since November 2012, by the Board of Directors, which determined the option price, term and provisions of each option. &nbsp;The exercise price with respect to all of the options granted under the 2003 Share Plan since its inception was equal to the fair market value of the underlying common stock at the grant date. In accordance with the provisions of the 2003 Share Plan, the plan terminated with respect to the grant of future options on April 21, 2013.<br /><br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px">Information regarding the 2003 Share Plan for the two years ended October 31, 2015 is as follows:</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="269" valign="bottom"> </td>
     <td width="96" valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="120" align="center" valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" valign="bottom"></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p> <p style="MARGIN:0px"><br />&nbsp;</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">Shares</font></p></td>
     <td valign="bottom">&nbsp;</td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" align="center" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">Weighted <br />Average Exercise <br />Price Per Share</font></p></td>
     <td valign="bottom">&nbsp;</td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">Aggregate <br />Intrinsic Value</font></p></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, 2013</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">625,554</p></td>
     <td> </td>
     <td><font style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">18.00</p></td>
     <td> </td>
     <td> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">(17,400)</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;&nbsp;3.63</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Forfeited</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">(114,163)</p></td>
     <td> </td>
     <td><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">19.75</p></td>
     <td> </td>
     <td> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding &nbsp;at October 31, 2014</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">493,991</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">18.00</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;(4,000)</p></td>
     <td> </td>
     <td><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;&nbsp;2.58</p></td>
     <td> </td>
     <td> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Forfeited</p></td>
     <td width="96" style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">(123,771)</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">14.71</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding and Exercisable at October 31, 2015</p></td>
     <td width="96" style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right"><font style="FONT-SIZE:11pt">&nbsp;&nbsp;&nbsp;366,200</font></p></td>
     <td> </td>
     <td><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">17.86</p></td>
     <td> </td>
     <td><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">61,665</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of October 31, 2015:</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="138" valign="bottom"> </td>
     <td width="96" valign="bottom"> </td>
     <td width="143" valign="bottom"> </td>
     <td width="90" align="center" valign="bottom"></td>
    </tr>
    <tr>
     <td width="138" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Range of<br />Exercise Prices</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Number<br />Outstanding</p></td>
     <td width="143" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Weighted Average<br />Remaining</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Contractual Life </p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">(in years)</p></td>
     <td width="90" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Weighted Average<br />Exercise Price</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="138" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$ &nbsp;1.79 - $ &nbsp;9.25</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">73,880</p></td>
     <td width="143" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">1.75</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$ &nbsp;2.91</p></td>
    </tr>
    <tr>
     <td width="138" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$14.75 - $17.25</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">59,600</p></td>
     <td width="143" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">1.33</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$16.75</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="138" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$18.75 - $23.00</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">192,720</p></td>
     <td width="143" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">1.14</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$21.57</p></td>
    </tr>
    <tr>
     <td width="138" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$29.25</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">40,000</p></td>
     <td width="143" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">1.80</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$29.25</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The 2010 Share Plan provides for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees and consultants. &nbsp;The maximum number of shares of common stock in the 2010 Share Plan was initially 600,000 shares. On July 6, 2011, the 2010 Share Plan was amended by our Board of Directors to increase the maximum number of shares of common stock in the plan to 1,080,000 shares and on August 29, 2012, the maximum number of shares in the plan was further increased to 1,200,000 shares. &nbsp;On November 8, 2013, the Board of Directors approved an amendment to provide that effective November 8, 2013, the maximum aggregate number of shares available for future issuance will be 800,000 shares and that on the first business day in 2014 and on the first business day of each calendar year thereafter the maximum aggregate number of shares available for future issuance shall be replenished such that 800,000 shares will be available. Accordingly, on November 8, 2013, January 2, 2014 and January 2, 2015, the number of shares in the 2010 Share Plan was increased to 1,956,999 shares, 2,225,399 shares and 2,569,399 shares, respectively. &nbsp;In addition, on November 8, 2013, the 2010 Share Plan was amended to provide that on January 2nd of each year commencing on January 2, 2014, each non-employee director of the Company at that time shall automatically be granted a 10 year stock option to purchase 12,000 shares of common stock (16,000 for the Chairman) that will vest in four equal quarterly installments. The 2010 Share Plan was administered by the Stock Option Committee through August 2012, from August 2012 through November 2012, by the Executive Committee of the Board of Directors and since November 2012, by the Board of Directors, which determines the option price, term and provisions of each option. The exercise price with respect to all of the options granted under the 2010 Share Plan was equal to the fair market value of the underlying common stock at the grant date. &nbsp;As of October 31, 2015, the 2010 Share Plan had 988,995 shares available for future grants.<br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Information regarding the 2010 Share Plan as of October 31, 2015 is as follows: </p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="278" valign="bottom"> </td>
     <td width="96" valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="132" valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="86" valign="bottom"></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align="center">Shares</p></td>
     <td valign="bottom">&nbsp;</td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align="center">&nbsp;Weighted Average Exercise Price Per Share</p></td>
     <td valign="bottom">&nbsp;</td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align="center">Aggregate Intrinsic Value</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, 2013</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119,360</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.13</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Granted</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612,400</p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.75</p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,200)</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.00</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, &nbsp;2014</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728,560</p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.75</p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:7px; MARGIN:0px">Granted</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60,400</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2.91</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13,334)</p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2.58</p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Forfeited</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(249,355)</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.24</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, &nbsp;2015</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526,271</p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3.33</p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$ 471,292</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Exercisable at October 31, 2015</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406,149</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3.40</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$ 342,572</p></td>
    </tr>

  </table><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">The following table summarizes information about stock options outstanding under the 2010 Share Plan as of October 31, 2015:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td valign="bottom" width="96">&nbsp;</td>
     <td valign="bottom" width="90">&nbsp;</td>
     <td valign="bottom" width="60">&nbsp;</td>
     <td valign="bottom" width="24">&nbsp;</td>
     <td valign="bottom" width="72">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom" width="90">&nbsp;</td>
     <td valign="bottom" width="65">&nbsp;</td>
     <td valign="bottom" width="18">&nbsp;</td>
     <td valign="bottom" width="77">&nbsp;</td>
    </tr>
    <tr>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="4" valign="bottom"><p align="center"><font style="font-size: 11pt;">Options Outstanding</font></p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="4" valign="bottom"><p align="center"><font style="font-size: 11pt;">Options Exercisable</font></p></td>
    </tr>
    <tr>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">Range of<br />Exercise<br />Prices</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">Number<br />Outstanding</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Remaining<br />Contractual Life</p><p style="font-size: 11pt; margin: 0px;" align="center">(in years)</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="72"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Exercise Price</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">Number<br />Exercisable</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Remaining<br />Contractual Life<br />(in years)</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="77"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Exercise Price</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="96"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="84"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="72"><p style="margin: 0px;">&nbsp;</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="84"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="77"><p style="margin: 0px;" align="center">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">$2.58 - $9.25</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">526,271</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">6.98</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="72"><p style="font-size: 11pt; margin: 0px;" align="center">$3.33</p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">406,149</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">6.57</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="77"><p style="font-size: 11pt; margin: 0px;" align="center">$3.40</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="72"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="77"><p style="display: none; font-size: 11pt; margin: 0px;" align="center">.</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In addition to options granted under the 2003 Share Plan and the 2010 Share Plan, in September 2012, the Board of Directors approved the grant of stock options to purchase 1,660,000 shares and, during the year ended October 31, 2013, the Board of Directors approved the grant of stock options to purchase 120,000 shares.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Of the stock options granted in September 2012, nonqualified options to purchase 1,600,000 shares were issued to our new executive team, consisting of 640,000 stock options issued to our new President and Chief Executive Officer, 320,000 stock options issued to our new Senior Vice President of Engineering and 640,000 stock options issued to a new strategic advisor to the Company who was also a Director. &nbsp;These stock options had an exercise price of $5.44 (the average of the high and the low sales price of the common stock on the trading day immediately preceding the approval of such options by the Board of Directors) and have a term of ten years. &nbsp;Half of these stock options vest in 36 equal monthly installments commencing on October 31, 2012, provided that if the grantees are terminated by the Company without cause, an additional 12 months of vesting will be accelerated and such accelerated options will become immediately exercisable. &nbsp;The balance of the stock options will vest in three equal installments upon achievement of a cash milestone, which was satisfied in the fourth quarter of fiscal 2013, and two stock price targets, which were not achieved in fiscal 2013. &nbsp;In November 2013, in light of the cost and expense of revaluing the unvested portion of the performance-based stock options on a quarterly basis for financial reporting purposes, the Board of Directors approved an amendment to the performance-based stock options awarded on September 19, 2012 to the President and Chief Executive Officer, Senior Vice President of Engineering and the strategic advisor. The amendment modifies the option award<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s vesting conditions to provide that the unvested portion of the stock options vest in 23 consecutive monthly installments commencing November 30, 2013. &nbsp;The fair value of these options was recalculated to reflect the change to service based options as of November 8, 2013 and the unrecognized compensation amount was adjusted to reflect the increase in fair value. &nbsp;As of October 31, 2015, the options to purchase 1,600,000 shares were exercisable and had an intrinsic value of $1,832,000, based on our closing share price on October 31, 2015 of $3.72. &nbsp;These stock options otherwise have the same terms and conditions as options granted under the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s 2010 Share Incentive Plan.</p><br/><p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">The remaining nonqualified stock options granted in September 2012 to purchase 60,000 shares consisted of grants of 30,000 stock options to our Chairman in compensation for his service as interim Chief Executive Officer of the Company and as compensation for his prior service as a director, and 30,000 stock options to a director in compensation for his service in recruiting the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s new management team. &nbsp;These stock options had an exercise price of $5.56 (the average of the high and low sales price on September 21, 2012). &nbsp;The options vest in 3 equal annual installments commencing on September 21, 2012 and have a term of ten years. &nbsp;&nbsp;As of October 31, 2015, these options were exercisable and had an intrinsic value of approximately $34,000<font style="FONT-SIZE:12pt">, based on our closing share price on October 31, 2015 of $3.72</font>. &nbsp;These stock options otherwise have the same terms and conditions as options granted under the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s 2010 Share Incentive Plan. &nbsp;</p><br/><p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">During the year ended October 31, 2013, nonqualified stock options to purchase 120,000 shares were granted to our outside directors for service rendered to our Company. &nbsp;Of these options, </p><br/><p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">(a) &nbsp;In November 2012, nonqualified stock options to purchase 40,000 shares were issued to one of our directors as additional compensation for service in recruiting the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s new management team. &nbsp;These options have an exercise price of $5.28 (the average of the high and low sales price on date of grant) and vested 13,334 shares upon grant and 13,333 shares in two annual installments commencing November 30, 2013. &nbsp;</p><br/><p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">(b) In February 2013, nonqualified stock options to purchase 40,000 shares were issued to the Chairman of the Board. &nbsp;These stock options had an exercise price of $5.88 (the average of the high and low sales price on date of grant) and vest 13,334 shares upon grant and 13,333 shares in two annual installments commencing February 15, 2014. &nbsp;</p><br/><p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">(c) In March 2013, nonqualified stock options to purchase an aggregate of 40,000 shares were granted to the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s three outside directors. &nbsp;Each of these stock options had an exercise price of $4.88 (the average of the high and low sales price on date of grant) and vest in four equal quarterly installments commencing March 31, 2013.</p><br/><p style="MARGIN-BOTTOM:14px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">As of October 31, 2015, the options to purchase 120,000 shares were exercisable and had an intrinsic value of approximately $92,000<font style="FONT-SIZE:12pt">, based on our closing share price on October 31, 2015 of $3.72</font>. &nbsp;These options otherwise have the same terms and conditions as options granted under the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s 2010 Share Incentive Plan.&nbsp;&nbsp;<br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table summarizes information about the above outstanding and exercisable stock options that were not granted under the 2003 Share Plan or the 2010 Share Plan as of October 31, 2015:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="138">&nbsp;</td>
     <td>&nbsp;</td>
     <td width="96">&nbsp;</td>
     <td>&nbsp;</td>
     <td width="143">&nbsp;</td>
     <td>&nbsp;</td>
     <td width="90">&nbsp;</td>
    </tr>
    <tr>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="138"><p style="font-size: 11pt; margin: 0px;" align="center">Range of<br />Exercise Prices</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">Number<br />Outstanding</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="143"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Remaining<br />Contractual Life</p><p style="font-size: 11pt; margin: 0px;" align="center">(in years)</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Exercise <br />Price</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="138"><p style="font-size: 11pt; margin: 0px;" align="center">$ 2.58 - $ 5.56</p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">1,780,000</p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="143"><p style="font-size: 11pt; margin: 0px;" align="center">6.76</p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">$ &nbsp;2.71</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="138"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="143"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="90"><p style="display: none; font-size: 11pt; margin: 0px;" align="center">.</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">On January 28, 2015, the Board of Directors authorized management of the Company to re-price issued and outstanding stock options for all of the officers, directors and employees of the Company, at any time prior to February 16, 2015. &nbsp;On February 5, 2015, management acted to re-price 2,184,125 issued and outstanding stock options (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Re-Priced Options<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) pursuant to the authority granted by the Board of Directors. The new exercise price of the Re-Priced Options is $2.575, the closing sales price of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock on February 5, 2015. &nbsp;All other terms of the previously granted Re-Priced Options remain the same. &nbsp;The Company recorded additional stock-based compensation of approximately $297,000, as of February 5, 2015, related to this re-pricing. &nbsp;This amount was determined to be the incremental value of the fair value of the Re-Priced Options compared to the fair value of the original option immediately before the re-pricing.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Preferred Stock</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">In May 1986, our shareholders authorized 200,000 shares of preferred stock with a par value of $100 per share. &nbsp;The shares of preferred stock may be issued in series at the direction of the Board of Directors, and the relative rights, preferences and limitations of such shares will all be determined by the Board of Directors. &nbsp;</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify"><u>Series A Convertible Preferred&nbsp;Stock</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">On September 9, 2014, the Company designated 140 shares of the preferred stock as Series A Convertible Preferred Stock, par value $100 per share, in accordance with the Certificate of Designation of Series A Convertible Preferred Stock filed with the Secretary of State of the State of Delaware on September 9, 2014 (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Series A Convertible Preferred Stock<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;On September 9, 2014, 140 shares of Series A Convertible Preferred Stock were issued in connection with the conversion of the Convertible Debenture due November 2016, as discussed further, in Note 5, <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Convertible Debentures<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> herein.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><i>Ranking&nbsp;</i></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Series A Convertible Preferred Stock ranks senior to the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock, to all series of any other classes of equity which may be issued and to any indebtedness, unless the Company has obtained the prior written consent of the Series A Convertible Preferred Stock holder.<br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><i>Optional Conversion</i></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Holders of the Series A Convertible Preferred Stock may at any time convert their shares of Series A Convertible Preferred Stock into such number of shares of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock in such an amount equal to (a) the stated value (initially $1,000) of the shares of Series A Convertible Preferred Stock being converted (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Stated Value<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), divided by the conversion price (initially $4.73) ( the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Series A Conversion Price<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), multiplied by (b) the number of shares of Series A Preferred Stock being converted. &nbsp;In the event the Series A Convertible Preferred Stock is converted in part, the Company shall deliver a new certificate of like tenor in the amount equal to the remaining balance of the Series A Convertible Preferred Stock after giving effect to such partial conversion.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The holder shall not have the right to convert any portion of the Series A Convertible Preferred Stock if after giving effect to such conversion, the holder, together with any affiliate thereof, would beneficially own in excess of 4.99% of the number of shares of common stock outstanding immediately after giving effect to such conversion.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The embedded conversion option has certain anti-dilution protection provisions which would be triggered if the Company issues its common stock, or certain common stock equivalents, (as defined) at a price below $3.55 per share. &nbsp;&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><i>Mandatory Conversion</i></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">At any time after November 11, 2016, if and only if the average of the high and low trading prices of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock for any 10 out of 20 consecutive trading days (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Measurement Period,<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) exceeds the then Series A Conversion Price, as adjusted, the Company may convert any then outstanding shares of Series A Convertible Preferred Stock into shares of common stock (a <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Mandatory Conversion<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), provided, however, that any such Mandatory Conversion shall not require a holder to convert a number of shares of Series A Convertible Preferred Stock into an amount of Common Stock that would exceed 50% of the daily average trading volume of the common stock during the Measurement Period. Following November 11, 2016 and subject to the price and volume limitations set forth above, the Company may require such number of successive Mandatory Conversions as are necessary to convert all then outstanding Series A Convertible Preferred Stock. </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><i>Redemption</i></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">At any time on or after November 11, 2016 (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Redemption Date<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), and upon at least 60 days prior written notice to the Company (a <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Redemption Notice<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), any holder of the Series A Convertible Preferred Stock shall have a one-time right to require the Company to redeem all or some of its shares of Series A Convertible Preferred Stock (a <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Redemption<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), for cash generated from a subsequent sale of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s equity securities. &nbsp;&nbsp;The redemption price shall be equal to the Stated Value for each share of Series A Convertible Preferred Stock (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Redemption Purchase Price<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;Upon receipt of a Redemption Notice, the Company shall complete a sale or sales of its equity securities for the purpose of accumulating net proceeds sufficient to pay the Redemption Purchase Price (it being understood by the holder of the Series A Convertible Preferred Stock that the Company may only redeem shares of Series A Convertible Preferred Stock with the proceeds from the sale of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s equity securities).<br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><i>Board and Observer Rights</i></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Each holder of Series A Convertible Preferred Stock shall have the right, upon 10 days' prior written notice, to designate one representative, reasonably acceptable to the Company, who shall be entitled to attend and observe meetings of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s Board of Directors in a non-voting observer capacity (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Observer<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>).</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><i>Accounting for the Series A Convertible Preferred Stock</i></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company determined that the economic characteristics and risks of the conversion feature and the preferred stock instrument were clearly and closely related as equity instruments and accordingly, the conversion feature would not require separate accounting. &nbsp;&nbsp;In addition, the redemption feature is contingent upon Series A Convertible Preferred Stock not being converted into common stock and upon the holders delivering a redemption notice to the Company. &nbsp;&nbsp;Further, the redemption purchase price may only be paid from the proceeds of a subsequent sale of equity securities. Accordingly, the Series A Convertible Preferred Stock was accounted for as an equity instrument. Further, b<font style="FONT-SIZE:12pt">ecause the conversion rate of the Series A Convertible Preferred Stock of $</font><font style="FONT-SIZE:12pt">4.73</font><font style="FONT-SIZE:12pt"> per share was less than the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s closing stock price on the date of this transaction, the Company determined that the Series A Convertible Preferred Stock contained a </font><font style="FONT-SIZE:12pt">beneficial</font><font style="FONT-SIZE:12pt"> conversion feature. The </font><font style="FONT-SIZE:12pt">beneficial </font><font style="FONT-SIZE:12pt">conversion feature was recorded in additional paid-in-capital as a result of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s accumulated deficit</font><font style="FONT-SIZE:12pt">.</font></p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(d),(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21484-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SAB TOPIC 4.C)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187143-122770<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Preferred Stock<br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section C<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6767605328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENTS AND CONTINGENCIES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px;"><br />7. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration: underline;">COMMITMENTS AND CONTINGENCIES</font></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px" align="justify"><u>Patent Acquisition Obligations</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">As of October 31, 2015, we have incurred obligations due no later than November 2017 related to the acquisition of patents, which have a discounted present value of approximately $3,688,000, and which amount will be reduced by royalties paid during the period, if any. &nbsp;The payment due in November 2017 is payable at the option of the Company in cash or common stock. &nbsp;We recorded interest expense of approximately $452,000 and $386,000, respectively, for the &nbsp;years ended October 31, 2015 and 2014, for the accretion of interest on patent acquisition obligations. </p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Leases</u> </p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">We lease approximately 3,000 square feet of office space in Los Angeles, California pursuant to a lease that expires March 30, 2016. &nbsp;As of October 31, 2015, our non-cancelable operating lease commitments for the year ending October 31, 2016 was approximately $44,000. &nbsp;Rent expense for the years ended October 31, 2015 and 2014, was approximately $100,000 and $109,000, respectively. &nbsp;</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Litigation Matters</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013. For a more detailed description of the settlement with AUO see Note 1, <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Business and Funding - Description of Business - AUO Lawsuit and Settlement<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>.<br /><br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Other than suits we bring to enforce our patent rights we are not a party to any material pending legal proceedings other than that which arise in the ordinary course of business. &nbsp;We believe that any liability that may ultimately result from the resolution of these matters will not, individually or in the aggregate, have a material adverse effect on our financial position or results of operations.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 460<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51674963&amp;loc=d3e12565-110249<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6767260288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px;"><br />8. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration: underline;">INCOME TAXES</font> &nbsp;&nbsp;&nbsp;</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify">Income tax provision (benefit) consists of the following:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td valign="bottom" width="270">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom" width="102">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom" width="108">&nbsp;</td>
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    <tr>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="5" valign="bottom"><p align="center"><font style="font-size: 11pt;">Year Ended October 31,</font></p></td>
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     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="2" valign="bottom"><p align="center"><font style="font-size: 11pt;">2015</font></p></td>
     <td valign="bottom"><font style="font-size: 11pt;">&nbsp;</font></td>
     <td style="border-bottom: #000000 1px solid;" colspan="2" valign="bottom"><p align="center"><font style="font-size: 11pt;">2014</font></p></td>
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     <td style="margin-top: 0px; padding: 0px;" width="270"><p style="font-size: 11pt; margin: 0px;">Federal:</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="108"><p style="margin: 0px;">&nbsp;</p></td>
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    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="270"><p style="font-size: 11pt; margin: 0px; text-indent: 12px;">Current</p></td>
     <td valign="bottom"><font style="font-size: 11pt;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom"><font style="font-size: medium;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="108"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
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     <td style="margin-top: 0px; padding: 0px;" width="270"><p style="font-size: 11pt; margin: 0px; text-indent: 12px;">Deferred</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px;" align="right">(487,000)</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="108"><p style="font-size: 11pt; margin: 0px;" align="right">(1,606,000)</p></td>
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    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="270"><p style="font-size: 11pt; margin: 0px;">State:</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="102"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="108"><p style="margin: 0px;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="270"><p style="font-size: 11pt; margin: 0px; text-indent: 12px;">Current</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">-</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="108"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">-</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="270"><p style="font-size: 11pt; margin: 0px; text-indent: 12px;">Deferred</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="102"><p style="font-size: 11pt; margin: 0px;" align="right">(120,000)</p></td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="108"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;(1,000)</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="270"><p style="font-size: 11pt; padding-left: 24px; margin: 0px; text-indent: -24px;">Adjustment to valuation allowance related</p><p style="font-size: 11pt; padding-left: 24px; margin: 0px; text-indent: -24px;">&nbsp;&nbsp;&nbsp;to net deferred tax assets</p></td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">607,000</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" width="108"><p style="margin-bottom: -2px; font-size: 11pt; width: 20px; float: left; margin-top: 0px; text-indent: 4px;">&nbsp;</p><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;1,607,000</p></td>
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     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="270"><font style="color: #000000; font-family: times new roman,times; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; display: none ! important; float: none; background-color: #ffffff;">Income tax provision (benefit)</font></td>
     <td style="border-bottom: #000000 3px double;" valign="bottom"><font style="font-size: medium;">$</font></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" valign="bottom" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 3px double;" valign="bottom"><font style="font-size: medium;">$</font></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" valign="bottom" width="108"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>

  </table><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">The tax effects of temporary differences that give rise to significant portions of the deferred tax asset, net, at October 31, 2015 and 2014, are as follows:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="2"><p align="center"><font style="font-size: 11pt;">2015</font></p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid;" colspan="2"><p align="center"><font style="font-size: 11pt;">2014</font></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px;">Long-term deferred tax assets:</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="340"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Federal and state NOL and tax credit carryforwards</p></td>
     <td><font style="font-size: 11pt;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" width="114"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;31,261,000</p></td>
     <td>&nbsp;</td>
     <td><font style="font-size: medium;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;31,864,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Deferred compensation</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">6,522,000</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">5,437,000</p></td>
    </tr>
    <tr>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;" width="25"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;" width="340"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Intangibles</p></td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;" width="114"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px; text-indent: 35px;" align="right">483,000</p></td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Other</p></td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px; text-indent: 35px;" align="right">282,000</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">359,000</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="340"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="114"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">38,548,000</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">37,660,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="340"><p style="font-size: 11pt; margin: 0px;">Less: valuation allowance</p></td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" width="114"><p style="font-size: 11pt; margin: 0px; text-indent: 7px;" align="right">(38,548,000)</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px; text-indent: 7px;" align="right">(37,660,000)</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;"><p style="font-size: 11pt; margin: 0px; text-indent: 16px;">Deferred tax asset, net</p></td>
     <td style="border-bottom: #000000 3px double;"><font style="font-size: medium;">$</font></td>
     <td style="border-bottom: #000000 3px double;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: #000000 3px double;"><font style="font-size: medium;">$</font></td>
     <td style="border-bottom: #000000 3px double;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>

  </table><br/><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px; text-indent: 48px;" align="justify">As of October 31, 2015, we had tax net operating loss and tax credit carryforwards of approximately $75,642,000 and $1,110,000, respectively, available within statutory limits (expiring at various dates between 2016 and 2035), to offset any future regular Federal corporate taxable income and taxes payable. &nbsp;If the tax benefits relating to deductions of option holders<font style="font-family: Arial Unicode MS,Times New Roman;">&#x2019;</font> income are ultimately realized, those benefits will be credited directly to additional paid-in capital. &nbsp;Certain changes in stock ownership can result in a limitation on the amount of net operating loss and tax credit carryovers that can be utilized each year. As of October 31, 2015, management has not determined the extent of any such limitations, if any.</p><br/><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px; text-indent: 48px;" align="justify">We had New York State tax net operating loss and tax credit carryforwards of approximately $72,505,000 and $11,000, respectively, and California tax net operating loss carryforward of approximately $2,803,000, as of October 31, 2015, available within statutory limits (expiring at various dates between 2016 and 2035), to offset future corporate taxable income and taxes payable, if any, under certain computations of such taxes.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We have provided a valuation allowance against our deferred tax asset due to our current and historical pre-tax losses and the uncertainty regarding their realizability. &nbsp;The primary differences from the Federal statutory rate of 34% and the effective rate of 0% is attributable to certain permanent differences and a change in the valuation allowance. &nbsp;The following is a reconciliation of income taxes at the Federal statutory tax rate to income tax expense (benefit):</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="4" valign="bottom" width="288"><p style="border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;" align="center">Year Ended October 31,</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="144"><p style="border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;" align="center">2015</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="144"><p style="border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;" align="center">2014</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="168"><p style="margin: 0px;">Income tax benefit at U.S.</p><p style="margin: 0px;">&nbsp;&nbsp;&nbsp;Federal statutory income</p><p style="margin: 0px;">&nbsp;&nbsp;&nbsp;Tax rate</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(469,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;(34.00%)</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;(3,266,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;(34.00%)</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">State income taxes</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">(117,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;&nbsp;(8.50%)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">(.06%)</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="168"><p style="margin: 0px;">Permanent differences</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">.10%</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">1,529,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">15.92%</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">Expiring net operating</p><p style="margin: 0px;">&nbsp;&nbsp;&nbsp;losses, credits and other</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;(1.60%)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;115,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">1.19%</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="168"><p style="padding-left: 24px; margin: 0px; text-indent: -24px;">Foreign rate difference on</p><p style="padding-left: 24px; margin: 0px; text-indent: -24px;">&nbsp;&nbsp;&nbsp;impairment</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">0%</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">21,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">.22%</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">Change in valuation &nbsp;</p><p style="margin: 0px;">&nbsp;&nbsp;&nbsp;allowance</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">44.00%</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;1,607,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;16.73%</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="168"><p style="margin: 0px;">Income tax provision</p></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">0%</p></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">0%</p></td>
    </tr>

  </table><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">During the two fiscal years ended October 31, 2015, we incurred no Federal and no State income taxes. &nbsp;We have no unrecognized tax benefits as of October 31, 2015 and 2014 and we account for interest and penalties related to income tax matters in marketing, general and administrative expenses. &nbsp;Tax years to which our net operating losses relate remain open to examination by Federal authorities and other jurisdictions to the extent which the net operating losses have yet to be utilized.<br /></p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6837762816">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies, by Policy (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountingPoliciesbyPolicyPoliciesLineItems', window );"><strong>Accounting Policies, by Policy (Policies) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock', window );">Basis of Presentation and Significant Accounting Policies [Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; CLEAR:left; MARGIN-TOP:0px" align="justify"><u>Basis of Presentation</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">The consolidated financial statements include the accounts of ITUS Corporation and its wholly owned subsidiaries. &nbsp;All intercompany transactions have been eliminated.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition, Policy [Policy Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Revenue Recognition</u> </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><u>Patent Licensing</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In certain instances, our past revenue arrangements have provided for the payment of contractually determined fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company.&nbsp;&nbsp;These arrangements typically include some combination of the following:&nbsp;&nbsp;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&nbsp;&nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&nbsp;&nbsp;Pursuant to the terms of these agreements, we had no further obligations. &nbsp;&nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><u>Display Technology Development and License Fees</u></p><br/><p style="font-size: 11pt; margin: 0px; text-indent: 48px;" align="justify"><font>We assessed the revenue guidance of Accounting Standards Codification (<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>ASC<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>) 605-25 <font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Multiple-Element Arrangements<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font> (<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>ASC 605-25<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>) to determine whether&nbsp;multiple deliverables in our arrangements with AUO represent separate units of accounting.&nbsp; Under the AUO License Agreements, we&nbsp;received initial development and&nbsp;license fees of $3 million, of aggregate development and license fees of up to $10 million.&nbsp; The additional $7 million in development and license fees were to be payable upon completion of certain conditions for the respective technologies.&nbsp; We determined that the transfer of the licensed patents and technology and the effort involved in completion of the conditions for the respective technologies represent a single unit of accounting for each technology.&nbsp; Accordingly, using a proportional performance method, during the third quarter of fiscal year 2011 we began recognizing the $3 million initial development and license fees over the estimated periods that we expected to complete the conditions for the respective&nbsp;technologies. Each of the license agreements also provided for the basis for royalty payments on future production, if any, by AUO to the Company, which we have determined represent separate units of accounting.&nbsp;&nbsp;We did not recognize any portion of the $7 million of additional development and license fees or any royalty income under the AUO License Agreements. </font></p><br/><p style="font-size: 11pt; margin: 0px; text-indent: 48px;" align="justify"><font>As a result of the AUO/E Ink Lawsuit described above we did not record any display technology development and license fee revenue during the period from the fourth quarter of fiscal 2012 through the second quarter of fiscal year 2014 due to uncertainty as to our remaining performance obligations, if any. &nbsp;Based on our assessment performed for the third quarter of fiscal 2014, we determined that we have no further performance obligations under the AUO License Agreements and accordingly we recognized display technology development and license fee revenue of approximately $1,187,000, representing the balance of the initial $3 million payment received from AUO.</font></p><br/><p style="font-size: 11pt; margin: 0px; text-indent: 48px;" align="justify"><font>On December 29, 2014, we settled our lawsuit against AUO and received gross proceeds of $9 million which was recognized as revenue in the first quarter of fiscal 2015 (see Note 1 <font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Business and Funding <font style="font-family: Arial Unicode MS,Times New Roman;">&#x2013;</font> Description of Business - AUO Lawsuit and Settlement <font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>).</font></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Inventor Royalties and Contingent Legal Fees</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Inventor royalties and contingent legal fees are expensed in the consolidated statements of operations in the period that the related revenues are recognized.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Anixa Development Expenses</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">Anixa development expenses are expensed in the consolidated statements of operations in the period incurred.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementPolicyPolicyTextBlock', window );">Fair Value Measurement, Policy [Policy Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Fair Value Measurements</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">ASC 820 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Fair Value Measurements and Disclosures<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 820<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) defines fair value, establishes a framework for measuring fair value under GAAP, and expands disclosures about fair value measurements. &nbsp;In accordance with ASC 820, we have categorized our financial assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. &nbsp;If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Financial assets and liabilities recorded in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:</p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px" align="justify">Level 1 - Financial instruments whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which we have the ability to access at the measurement date.</p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px" align="justify">Level 2 - Financial instruments whose values are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. &nbsp;</p><br/><p style="FONT-SIZE:11pt; PADDING-LEFT:48px; MARGIN:0px" align="justify">Level 3 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Financial instruments whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. &nbsp;These inputs reflect management<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s own assumptions about the assumptions a market participant would use in pricing the instrument. &nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2015:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td valign="bottom" width="192">&nbsp;</td>
     <td valign="bottom" width="90">&nbsp;</td>
     <td valign="bottom" width="18">&nbsp;</td>
     <td valign="bottom" width="84">&nbsp;</td>
     <td valign="bottom" width="18">&nbsp;</td>
     <td valign="bottom" width="77">&nbsp;</td>
     <td valign="bottom" width="15">&nbsp;</td>
     <td valign="bottom" width="104">&nbsp;</td>
    </tr>
    <tr>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192" height="22"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Level 1</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="22"><p style="margin: 0px;" align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Level 2</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="22"><p style="margin: 0px;" align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Level 3</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15" height="22"><p style="margin: 0px;" align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Total</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192"><p style="font-size: 11pt; margin: 0px;">Money market funds <font style="font-family: Arial Unicode MS,Times New Roman;">&#x2013;</font> Cash &nbsp;</p><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;and cash equivalents</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px; padding-right: 4px;" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td>
    </tr>
    <tr>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192" height="42"><p style="font-size: 11pt; margin: 0px;">Certificates of deposit -</p><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Short term investments</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90" height="42"><p style="margin: 0px;" align="right">-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="42"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84" height="42"><p style="margin: 0px;" align="right"><font style="font-size: 11pt;">2,400,000</font></p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="42"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77" height="42"><p style="margin: 0px;" align="right">-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15" height="42"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104" height="42"><p style="font-size: 11pt; margin: 0px;" align="right">2,400,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192"><p style="margin: 0px;" align="justify">&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="justify">Total financial assets</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90"><p style="margin: 0px;" align="right">&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">$ 2,400,000</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104"><p style="margin: 0px;" align="right">&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,867,967</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2014:</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="192" valign="bottom"> </td>
     <td width="90" valign="bottom"> </td>
     <td width="18" valign="bottom"> </td>
     <td width="84" valign="bottom"> </td>
     <td width="18" valign="bottom"> </td>
     <td width="77" valign="bottom"> </td>
     <td width="15" valign="bottom"> </td>
     <td width="104" valign="bottom"></td>
    </tr>
    <tr>
     <td width="192" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;</p></td>
     <td width="90" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Level 1</p></td>
     <td width="18" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="center"><br /></p></td>
     <td width="84" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Level 2</p></td>
     <td width="18" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="center"><br /></p></td>
     <td width="77" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Level 3</p></td>
     <td width="15" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="center"><br /></p></td>
     <td width="104" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Total</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="192" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Money market funds <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Cash &nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;and cash equivalents</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="84" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="77" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td width="15" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="104" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td>
    </tr>
    <tr>
     <td width="192" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Certificates of deposit -</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Short term investments</p></td>
     <td width="90" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right">-</p></td>
     <td width="18" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="84" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">2,500,000</font></p></td>
     <td width="18" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="77" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right">-</p></td>
     <td width="15" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="104" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">2,500,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="192" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="justify"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">Total financial assets</p></td>
     <td width="90" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td width="84" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;2,500,000</p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="77" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td width="15" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="104" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,655,964</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2015:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="228">&nbsp;</td>
     <td width="28">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="86">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="87">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="54"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 1</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="51"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 2</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="100"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 3</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="102"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Total</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="margin: 0px; line-height: 0.05pt;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="86"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="87"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">Patent acquisition obligation</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;$</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="86"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,688,187</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">$&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="87"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,688,187</p></td>
    </tr>

  </table><br/><p style="font-size: 11pt; margin: 0px; text-indent: 48px;" align="justify">The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest, as of October 31, 2014:</p><br/><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="228">&nbsp;</td>
     <td width="28">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="86">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="87">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="54"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 1</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="51"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 2</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="100"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 3</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="102"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Total</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="margin: 0px; line-height: 0.05pt;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="86"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="87"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">Patent acquisition obligation</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">$&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="86"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,236,281</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">$&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="87"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,236,281</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table sets forth a summary of the changes in the fair value of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s Level 3 financial liabilities that are measured at fair value on a recurring basis:</p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="485" valign="bottom"> </td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" align="right" valign="bottom">&nbsp; <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="center">For the two <br />years ended <br />October 31, <br />2015</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify"><u>Patent acquisition obligation:</u></p></td>
     <td> </td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right"> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:6px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Balance October 31, 2013</p></td>
     <td valign="bottom"><font style="FONT-SIZE:11pt">$</font></td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Initial fair value</p></td>
     <td> </td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,850,511</p></td>
    </tr>
    <tr>
     <td width="485" height="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Accretion of interest on patent obligation</p></td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom">&nbsp; </td>
     <td width="109" height="8" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385,770</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Balance October 31, 2014</p></td>
     <td> </td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,236,281</p></td>
    </tr>
    <tr>
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Accretion of interest on patent obligation</p></td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom">&nbsp; </td>
     <td width="109" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451,906</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Balance October 31, 2015</p></td>
     <td style="BORDER-BOTTOM:#000000 3px double"><font size="3">$</font></td>
     <td width="109" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,688,187</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Our non-financial assets that are measured on a non-recurring basis include our property and equipment which are measured using fair value techniques whenever events or changes in circumstances indicate a condition of impairment exists. &nbsp;The estimated fair value of prepaid expenses, accounts payable and accrued expenses approximates their individual carrying amounts due to the short term nature of these measurements. &nbsp;Cash and cash equivalents are stated at carrying value which approximates fair value.</p><span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents, Policy [Policy Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:11pt; PADDING-BOTTOM:0px; MARGIN:0px; TEXT-INDENT:0px" align="justify"><u>Cash and Cash Equivalents</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Cash equivalents consists of highly liquid, short term investments with original maturities of three months or less when purchased.</p><span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentPolicyTextBlock', window );">Investment, Policy [Policy Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Short-term Investments</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">At October 31, 2015 and 2014, we had certificates of deposit with maturities greater than 90 days when acquired of $2,400,000 and $2,500,000, respectively, that were classified as short-term investments and reported at fair value.</p><span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MarketableSecuritiesPolicy', window );">Marketable Securities, Policy [Policy Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Investment Securities</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">We classify our investment securities as available-for-sale. &nbsp;Available-for-sale securities are recorded at fair value. &nbsp;Unrealized gains and losses, net of the related tax effect, on available-for-sale securities are excluded from earnings and are reported as a component of accumulated other comprehensive income (loss) until realized. &nbsp;Realized gains and losses from the sale of available-for-sale securities are determined on a specific identification basis. &nbsp;Dividend and interest income are recognized when earned.<br /></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">We monitor the value of our investments for indicators of impairment, including changes in market conditions and the operating results of the underlying investment that may result in the inability to recover the carrying value of the investment.</p><span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertibleInstrumentPolicyTextBlock', window );">Convertible Instruments Policy [Policy Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Convertible Instruments</u> </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company accounts for hybrid contracts that feature conversion options in accordance with applicable generally accepted accounting principles (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>GAAP<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>).&nbsp; ASC &nbsp;815 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Derivatives and Hedging Activities,<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 815<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b)&nbsp;the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c)&nbsp;a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.&nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company accounts for convertible instruments, when the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, in accordance with ASC 470-20 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Debt with Conversion and Other Options<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 470-20<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). Under ASC 470-20, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company accounts for convertible instruments (when the Company has determined that the embedded conversion options should be bifurcated from their host instruments) in accordance with ASC 815.&nbsp;&nbsp;Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract are allocated to the fair value of the derivative. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The conversion features of the convertible debentures issued in January 2013 and November 2013 qualified as embedded derivative instruments and were bifurcated from the host convertible debentures.&nbsp; Derivative liabilities are initially recorded at fair value and are then re-valued at each reporting date, with changes in fair value recognized in earnings during the reporting period.</p><span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityPolicyTextBlock', window );">Stockholders' Equity, Policy [Policy Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Common Stock Purchase Warrants</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The Company classifies as equity any contracts that (i)&nbsp;require physical settlement or net-share settlement or (ii) provides a choice of net-cash settlement or settlement in the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s own shares (physical settlement or net-share settlement)&nbsp;providing that such contracts are indexed to the Company's own stock as defined in ASC 815-40 "Contracts in Entity's Own Equity". The Company classifies as assets or liabilities any contracts that (i)&nbsp;require net-cash settlement (including a requirement to net cash settle the contract if an event occurs and if that event is outside the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s control) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement).&nbsp;&nbsp;The Company assesses classification of common stock purchase warrants and other free standing derivatives at each reporting date to determine whether a change in classification between assets and liabilities or equity is required.</p><span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Tax, Policy [Policy Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Income Taxes</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">We recognize deferred tax assets and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. &nbsp;A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px"><u>Stock-Based Compensation</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">We maintain stock equity incentive plans under which we may grant non-qualified stock options, incentive stock options, stock appreciation rights, stock awards, performance and performance-based awards, or stock units to employees, non-employee directors and consultants.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CompensationRelatedCostsPolicyTextBlock', window );">Compensation Related Costs, Policy [Policy Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Stock Option Compensation Expense</u> </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We account for stock options granted to employees and directors using the accounting guidance in ASC 718 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Stock Compensation<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 718<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;In accordance with ASC 718, we estimate the fair value of service based options and performance based options on the date of grant, using the Black-Scholes pricing model. &nbsp;For options vesting if the trading price of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock achieves a defined target, we use a Monte Carlo simulation in estimating the fair value at grant date. We recognize compensation expense for stock option awards over the requisite or implied service period of the grant. &nbsp;With respect to performance based awards, compensation expense is recognized when the performance target is deemed probable. &nbsp;We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $2,192,000 and $2,128,000, during the years ended October 31, 2015 and 2014, respectively. </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Included in stock-based compensation cost for employees and directors during the years ended October 31, 2015 and 2014 was approximately $2,092,781 and $1,426,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but not yet vested. &nbsp;As of October 31, 2015, there was unrecognized compensation cost related to non-vested stock options granted to employees and directors, related to service based options of approximately $432,000 which will be recognized over a weighted-average period of 1.1 years. </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We account for stock options granted to consultants using the accounting guidance included in ASC 505-50 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Equity-Based Payments to Non-Employees<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASC 505-50<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;In accordance with ASC 505-50, we estimate the fair value of service based stock options and performance based options at each reporting period, using the Black-Scholes pricing model. &nbsp;For options vesting if the trading price of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s common stock achieves a defined target we estimate the fair value at each reporting period using a Monte Carlo simulation. &nbsp;We recognize compensation expense for service based stock options and options subject to market conditions over the requisite or implied service period of the grant. &nbsp;For performance based awards, compensation expense is recognized when the performance target is achieved.<br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We recorded consulting expense, related to stock options granted to consultants, during the years ended October 31, 2015 and 2014 of approximately $484,000 and $1,022,000, respectively. Stock-based consulting expense for the years ended October 31, 2015 and 2014 includes approximately $484,000 and $964,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of October 31, 2015, there was no unrecognized consulting expense related to non-vested stock options granted to consultants.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueOfFinancialInstrumentsPolicy', window );">Fair Value of Financial Instruments, Policy [Policy Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Fair Value Determination</u> &nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We use the Black-Scholes pricing model in estimating the fair value of stock options which vest over a specific period of time or upon achieving performance targets. &nbsp;To determine the weighted average fair value of stock options on the date of grant, employees and directors are included in a single group. &nbsp;The fair value of stock options granted to consultants is determined on an individual basis. &nbsp;The stock options we granted during the year ended October 31, 2015 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months. The stock options we granted during the year ended October 31, 2014 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months, options with 5-year terms which vest immediately and options with 10-year terms which vest upon achievement of performance milestones. &nbsp;</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following weighted average assumptions were used in estimating the fair value of stock options granted during the years ended October 31, 2015 and 2014: </p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="280" valign="bottom"> </td>
     <td width="78" valign="bottom"> </td>
     <td width="78" valign="bottom"></td>
    </tr>
    <tr>
     <td valign="bottom"> </td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">For the Year <br />Ended October 31,</font></p></td>
    </tr>
    <tr>
     <td valign="bottom"> </td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">2015</font></p></td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">2014</font></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Weighted average fair value at grant date</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$3.09</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$5.75</p></td>
    </tr>
    <tr>
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Valuation assumptions:</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected life ( years) </p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;&nbsp;5.75</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">5.80</p></td>
    </tr>
    <tr>
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected volatility</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">117.8%</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">115.3%</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risk-free interest rate</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;2.01%</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;1.82%</p></td>
    </tr>
    <tr>
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected dividend yield</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">0</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">0</p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The expected term of stock options represents the weighted average period the stock options are expected to remain outstanding. &nbsp;We use the simplified method to determine expected term. &nbsp;The simplified method was adopted since we do not believe that historical experience is representative of future performance because of the impact of the changes in our operations and the change in terms from historical options which vested immediately to terms including vesting periods of up to three years. &nbsp;Under the Black-Scholes pricing model, we estimated the expected volatility of our shares of common stock based upon the historical volatility of our share price over a period of time equal to the expected term of the options. &nbsp;We estimated the risk-free interest rate based on the implied yield available on the applicable grant date of a U.S. Treasury note with a term equal to the expected term of the underlying grants. &nbsp;We made the dividend yield assumption based on our history of not paying dividends and our expectation not to pay dividends in the future.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Under ASC 718, the amount of stock-based compensation expense recognized is based on the portion of the awards that are ultimately expected to vest. &nbsp;Accordingly, if deemed necessary, we reduce the fair value of the stock option awards for expected forfeitures, which are forfeitures of the unvested portion of surrendered options. &nbsp;Based on our historical experience and future expectations, we have not reduced the amount of stock-based compensation expenses for anticipated forfeitures.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We will reconsider use of the Black-Scholes pricing model if additional information becomes available in the future that indicates another model would be more appropriate. &nbsp;If factors change and we employ different assumptions in the application of ASC 718 in future periods, the compensation expense that we record under ASC 718 may differ significantly from what we have recorded in the current period.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings Per Share, Policy [Policy Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Net&nbsp;Loss&nbsp;Per&nbsp;Share of Common Stock</u> </p><br/><p style="margin-bottom: 16px; font-size: 11pt; margin-top: 0px; text-indent: 48px;" align="justify">In accordance with ASC 260, <font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Earnings Per Share<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>, basic net loss per common share (<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Basic EPS<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>) is computed by dividing net loss by the weighted average number of common shares outstanding. &nbsp;Diluted net loss per common share (<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Diluted EPS<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>) is computed by dividing net loss by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. &nbsp;Diluted EPS for all years presented is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. &nbsp;For this reason, excluded from the calculation of Diluted EPS for the years ended October 31, 2015 and 2014, were options to purchase 2,672,471 and 3,002,550 shares, respectively, warrants to purchase 1,028,931 shares and 1,044,931 shares, respectively, preferred stock convertible into 739,958 shares.</p><span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates, Policy [Policy Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Use of Estimates</u> </p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. &nbsp;Estimates and assumptions are used for, but not limited to, determining stock-based compensation, asset impairment evaluations, tax assets and liabilities, license fee revenue, the allowance for doubtful accounts, depreciation lives and other contingencies. &nbsp;Actual results could differ from those estimates.</p><span></span>
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<tr class="ro">
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<td class="text"><p style="FONT-SIZE:11pt; MARGIN:0px"><u>Effect of Recently Issued Pronouncements</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2014-09<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), Revenue from Contracts with Customers. &nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &nbsp;This standard update is effective for&nbsp;interim and annual&nbsp;reporting periods beginning after December 15,&nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&nbsp;and related disclosures.<br /></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In June 2014, the FASB issued Accounting Standards Update 2014-12 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2014-12<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), Compensation <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Stock Compensation. &nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&nbsp;and related disclosures.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In August 2014, the FASB issued Accounting Standards Update 2014-15 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2014-15<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;This amendment requires management to assess an entity<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In April 2015, the FASB issued Accounting Standards Update 2015-03 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2015-03<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. Adoption of this standard is required for interim and annual periods beginning after December 15, 2015 and is to be applied retrospectively. We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&nbsp;and related disclosures.</p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px">In November 2015, the FASB issued Accounting Standards Update 2015-17 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2015-17<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&nbsp;and related disclosures.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskCreditRisk', window );">Concentration Risk, Credit Risk, Policy [Policy Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:11pt; MARGIN-TOP:0px" align="justify"><u>Concentration of Credit Risks</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Financial instruments that potentially subject us to concentrations of credit risk are cash equivalents, short-term investments and accounts receivable. &nbsp;Cash equivalents are primarily highly rated money market funds. Short-term investments are certificates of deposit within federally insured limits. Where applicable, management reviews our accounts receivable and other receivables for potential doubtful accounts and maintains an allowance for estimated uncollectible amounts. Our policy is to write-off uncollectable amounts at the time it is determined that collection will not occur. </p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Three licensees accounted for 53%, 37% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2015. Four licensees accounted for 22%, 16%, 14% and 10%, respectively, of revenues from patent licensing activities during fiscal year 2014.</p><span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_PatentsMember', window );">Patents [Member]</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountingPoliciesbyPolicyPoliciesLineItems', window );"><strong>Accounting Policies, by Policy (Policies) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsFiniteLivedPolicy', window );">Intangible Assets, Finite-Lived, Policy [Policy Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Patents</u></p><br/><p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Our only identifiable intangible assets are patents and patent rights. &nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. &nbsp;Patent acquisition costs capitalized during the years ended October 31, 2015 and 2014, was approximately $-0- and $3,036,000, respectively. &nbsp;We recorded patent amortization expense of approximately $325,000 and $314,000 during the years ended October 31, 2015 and 2014, respectively.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for convertible instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).  Accounting policies describe all significant accounting policies of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 203<br> -Paragraph 02-03<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to employees, including equity-based arrangements; discloses methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for credit risk.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for determining the fair value of financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13279-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 60<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7493716&amp;loc=d3e21868-110260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32840-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6423966&amp;loc=d3e40913-109327<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32809-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32247-109318<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32280-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for finite-lived intangible assets. This accounting policy also might address: (1) the amortization method used; (2) the useful lives of such assets; and (3) how the entity assesses and measures impairment of such assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27290-111563<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.2,12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 325<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6872867&amp;loc=d3e40691-111596<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section M<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for investments in debt and equity securities that have readily determinable fair values (marketable securities). At a minimum, the disclosure might address accounting policies for investments classified as trading, available for sale, or held to maturity and may include how the entity determines whether impairments of available for sale or held to maturity investments are other than temporary, how the fair values of the entity's securities are determined, and the entity's accounting treatment for transfers between investment categories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section S50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6381980&amp;loc=d3e87707-122711<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 320<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6957658&amp;loc=d3e62652-112803<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section M<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 2, 12<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18823-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18726-107790<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.B.Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section B<br> -Paragraph Question 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for its capital stock transactions, including dividends and accumulated other comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18726-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21459-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6061-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6143-108592<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6132-108592<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6837674560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="text"><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td valign="bottom" width="192">&nbsp;</td>
     <td valign="bottom" width="90">&nbsp;</td>
     <td valign="bottom" width="18">&nbsp;</td>
     <td valign="bottom" width="84">&nbsp;</td>
     <td valign="bottom" width="18">&nbsp;</td>
     <td valign="bottom" width="77">&nbsp;</td>
     <td valign="bottom" width="15">&nbsp;</td>
     <td valign="bottom" width="104">&nbsp;</td>
    </tr>
    <tr>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192" height="22"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Level 1</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="22"><p style="margin: 0px;" align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Level 2</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="22"><p style="margin: 0px;" align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Level 3</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15" height="22"><p style="margin: 0px;" align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104" height="22"><p style="font-size: 11pt; margin: 0px;" align="center">Total</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192"><p style="font-size: 11pt; margin: 0px;">Money market funds <font style="font-family: Arial Unicode MS,Times New Roman;">&#x2013;</font> Cash &nbsp;</p><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;and cash equivalents</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px; padding-right: 4px;" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td>
    </tr>
    <tr>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192" height="42"><p style="font-size: 11pt; margin: 0px;">Certificates of deposit -</p><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Short term investments</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90" height="42"><p style="margin: 0px;" align="right">-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="42"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84" height="42"><p style="margin: 0px;" align="right"><font style="font-size: 11pt;">2,400,000</font></p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18" height="42"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77" height="42"><p style="margin: 0px;" align="right">-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15" height="42"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104" height="42"><p style="font-size: 11pt; margin: 0px;" align="right">2,400,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="192"><p style="margin: 0px;" align="justify">&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="justify">Total financial assets</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="90"><p style="margin: 0px;" align="right">&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467,967</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">$ 2,400,000</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="18"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="77"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="15"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 3px double; padding-bottom: 0px; padding-top: 0px; padding-left: 4px; margin-top: 0px; padding-right: 4px;" valign="bottom" width="104"><p style="margin: 0px;" align="right">&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,867,967</p></td>
    </tr>

  </table><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="192" valign="bottom"> </td>
     <td width="90" valign="bottom"> </td>
     <td width="18" valign="bottom"> </td>
     <td width="84" valign="bottom"> </td>
     <td width="18" valign="bottom"> </td>
     <td width="77" valign="bottom"> </td>
     <td width="15" valign="bottom"> </td>
     <td width="104" valign="bottom"></td>
    </tr>
    <tr>
     <td width="192" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;</p></td>
     <td width="90" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Level 1</p></td>
     <td width="18" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="center"><br /></p></td>
     <td width="84" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Level 2</p></td>
     <td width="18" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="center"><br /></p></td>
     <td width="77" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Level 3</p></td>
     <td width="15" height="22" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="center"><br /></p></td>
     <td width="104" height="22" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Total</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="192" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Money market funds <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Cash &nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;and cash equivalents</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="84" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="77" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td width="15" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="104" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td>
    </tr>
    <tr>
     <td width="192" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Certificates of deposit -</p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;Short term investments</p></td>
     <td width="90" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right">-</p></td>
     <td width="18" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="84" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">2,500,000</font></p></td>
     <td width="18" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="77" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right">-</p></td>
     <td width="15" height="42" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="104" height="42" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">2,500,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="192" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="justify"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">Total financial assets</p></td>
     <td width="90" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155,964</p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td width="84" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;2,500,000</p></td>
     <td width="18" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="77" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td width="15" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="104" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:4px; MARGIN-TOP:0px; PADDING-RIGHT:4px" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,655,964</p></td>
    </tr>

  </table><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="228">&nbsp;</td>
     <td width="28">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="86">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="87">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="54"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 1</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="51"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 2</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="100"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 3</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="102"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Total</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="margin: 0px; line-height: 0.05pt;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="86"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="87"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">Patent acquisition obligation</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;$</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="86"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,688,187</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">$&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="87"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,688,187</p></td>
    </tr>

  </table><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="228">&nbsp;</td>
     <td width="28">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="25">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="86">&nbsp;</td>
     <td width="12">&nbsp;</td>
     <td width="14">&nbsp;</td>
     <td width="87">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="54"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 1</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="51"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 2</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="100"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Level 3</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="102"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="center">Total</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="228"><p style="margin: 0px; line-height: 0.05pt;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="86"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="87"><p style="margin: 0px; line-height: 0.05pt;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="228"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">Patent acquisition obligation</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="28"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">$&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="86"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,236,281</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="12"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px; width: 14px;" valign="bottom"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;" align="right">$&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="87"><p style="font-size: 11pt; padding-left: 2px; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,236,281</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock', window );">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="485" valign="bottom"> </td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" align="right" valign="bottom">&nbsp; <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="center">For the two <br />years ended <br />October 31, <br />2015</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify"><u>Patent acquisition obligation:</u></p></td>
     <td> </td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right"> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:6px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Balance October 31, 2013</p></td>
     <td valign="bottom"><font style="FONT-SIZE:11pt">$</font></td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Initial fair value</p></td>
     <td> </td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,850,511</p></td>
    </tr>
    <tr>
     <td width="485" height="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Accretion of interest on patent obligation</p></td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom">&nbsp; </td>
     <td width="109" height="8" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385,770</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Balance October 31, 2014</p></td>
     <td> </td>
     <td width="109" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,236,281</p></td>
    </tr>
    <tr>
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Accretion of interest on patent obligation</p></td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom">&nbsp; </td>
     <td width="109" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right" valign="bottom"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451,906</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="485" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="justify">Balance October 31, 2015</p></td>
     <td style="BORDER-BOTTOM:#000000 3px double"><font size="3">$</font></td>
     <td width="109" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="right"> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:11pt; MARGIN-TOP:6px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,688,187</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock', window );">Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="280" valign="bottom"> </td>
     <td width="78" valign="bottom"> </td>
     <td width="78" valign="bottom"></td>
    </tr>
    <tr>
     <td valign="bottom"> </td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">For the Year <br />Ended October 31,</font></p></td>
    </tr>
    <tr>
     <td valign="bottom"> </td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">2015</font></p></td>
     <td style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">2014</font></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Weighted average fair value at grant date</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$3.09</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$5.75</p></td>
    </tr>
    <tr>
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Valuation assumptions:</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
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    <tr style="background-color: #cceeff;">
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected life ( years) </p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;&nbsp;5.75</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">5.80</p></td>
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    <tr>
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected volatility</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">117.8%</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">115.3%</p></td>
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    <tr style="background-color: #cceeff;">
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risk-free interest rate</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;2.01%</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;1.82%</p></td>
    </tr>
    <tr>
     <td width="280" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expected dividend yield</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">0</p></td>
     <td width="78" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">0</p></td>
    </tr>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6759497792">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
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     <td width="356" valign="bottom"> </td>
     <td width="15" valign="bottom"> </td>
     <td width="96" valign="bottom"></td>
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    <tr>
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     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">Investment in <br />Videocon</font></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="356" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">Fair Value as of October 31, 2013</p></td>
     <td width="15" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px" align="justify">&nbsp;<font style="FONT-SIZE:11pt">$</font></p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp; &nbsp;4,197,341</p></td>
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    <tr>
     <td width="356" height="17" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&nbsp;&nbsp;&nbsp;Other than temporary impairment</p></td>
     <td width="15" height="17" style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="justify">&nbsp;</p></td>
     <td width="96" height="17" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62,825)</p></td>
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    <tr style="background-color: #cceeff;">
     <td width="356" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="justify"><font style="FONT-SIZE:11pt">Fair value of Videocon GDRs on date of disposition</font></p></td>
     <td width="15" style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"><font style="FONT-SIZE:11pt">&nbsp;</font>$</td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;4,134,516</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
</table>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentsScheduleAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentsScheduleAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the fair value of assets, by major investment asset category, supporting separate accounts with additional insurance benefits and minimum investment return guarantees as of each date for which a statement of financial position is presented. The taxonomy for investment disclosures is utilized to tag elements that represent more detailed breakdowns of the major investment categories specified in reporting regulations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 80<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6484115&amp;loc=d3e19393-158473<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 20<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=6588021&amp;loc=d3e7104-158389<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 80<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=6484115&amp;loc=d3e19393-158473<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6767742000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PayablesAndAccrualsAbstract', window );"><strong>Payables and Accruals [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock', window );">Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]</a></td>
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    <tr style="font-size: 0px;">
     <td valign="bottom" width="307">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td align="right" valign="bottom" width="94">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td align="right" valign="bottom" width="94">&nbsp;</td>
    </tr>
    <tr>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="5" align="right" valign="bottom"><p align="center"><font style="font-size: 11pt;">October 31,</font></p></td>
    </tr>
    <tr>
     <td valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid;" colspan="2" align="right" valign="bottom"><p align="center"><font style="font-size: 11pt;">2015</font></p></td>
     <td valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid;" colspan="2" align="right" valign="bottom"><p align="center"><font style="font-size: 11pt;">2014</font></p></td>
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     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307"><p style="font-size: 11pt; margin: 0px;">Accounts payable</p></td>
     <td><font style="font-size: 11pt;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;374,703</p></td>
     <td>&nbsp;</td>
     <td><font style="font-size: 11pt;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;540,179</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307" height="16"><p style="font-size: 11pt; margin: 0px;">Payroll and related expenses</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94" height="16"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94" height="16"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372,753</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307"><p style="font-size: 11pt; margin: 0px;">Accrued litigation expense, consulting and other</p><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;professional fees</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;</p><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320,493</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307" height="15"><p style="font-size: 11pt; margin: 0px;">Accrued other</p></td>
     <td style="border-bottom: #000000 1px solid;" valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94" height="15"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,062</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94" height="15"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,001</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="307"><p style="margin: 0px;">&nbsp;<font style="color: #000000; font-family: 'times new roman'; font-size: 14.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: none !important; float: none; background-color: #cceeff;">Total</font></p></td>
     <td style="border-bottom: #000000 3px double;"><font style="font-size: 11pt;">$</font></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;380,765</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 3px double;"><font style="font-size: 11pt;">$</font></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" align="right" valign="bottom" width="94"><p style="font-size: 11pt; margin: 0px;" align="right">1,249,426</p></td>
    </tr>

  </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6837777376">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESTablesLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValueTableTextBlock', window );">Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="265"> </td>
     <td width="17"> </td>
     <td width="101"></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="119" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">On September 9,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">2014</p></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price used for valuation</p></td>
     <td width="17" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">6.125</p></td>
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    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="17" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">211.4 shares issued per $1,000 of face value</p></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px; TEXT-INDENT:-12px">Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion</p></td>
     <td width="17" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">4,532,241</p></td>
    </tr>
    <tr>
     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:12px; MARGIN:0px; PADDING-RIGHT:2px">Less the face value of the convertible debenture</p></td>
     <td width="17" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="101" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">(3,500,000)</p></td>
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     <td width="265" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Intrinsic value of the derivative conversion feature</p></td>
     <td width="17" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;$</p></td>
     <td width="101" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">&nbsp;1,032,241</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueEstimateNotPracticableDisclosureItemsAxis=itus_ConvertibleDebentureWarrantMember', window );">Convertible Debenture Warrant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESTablesLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock', window );">Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="286"> </td>
     <td width="11"> </td>
     <td width="86"></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="97" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">November 11,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price on valuation date</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">5.00</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Exercise price</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">9.45</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Discount for lack of marketability</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">22%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Term (years)</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">3.00</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Expected volatility</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">102.8%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Weighted average risk-free interest rate</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">0.6%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Number of warrants</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">369,979</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Aggregate fair value</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">740,000</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ScheduleOfDebtIssuanceCostTableTextBlock', window );">Schedule of Debt Issuance Cost [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="164"> </td>
     <td width="9"> </td>
     <td width="131"> </td>
     <td width="9"> </td>
     <td width="11"> </td>
     <td width="57"></td>
    </tr>
    <tr>
     <td width="164" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;Attributable to:</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;</p></td>
     <td width="131" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">Accounting Treatment</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;</p></td>
     <td width="69" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">Amount</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">The embedded conversion feature (derivative)</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Expensed as incurred</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="57" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">8,593</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">The 8% Convertible Debenture Warrant</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Charged to additional paid-in capital</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="57" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">2,824</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="57" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="top"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">The 8% Convertible Debenture</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="top"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="57" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">7,739</p></td>
    </tr>
    <tr>
     <td width="164" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Total</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="131" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="57" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">19,156</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueJanuary2015Member', window );">Convertible Debenture Due January 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESTablesLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebtTableTextBlock', window );">Convertible Debt [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="256" valign="bottom"> </td>
     <td width="8" valign="bottom"> </td>
     <td width="87" valign="bottom"> </td>
     <td width="6" valign="bottom"> </td>
     <td width="6"> </td>
     <td width="96" valign="bottom"></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><font style="FONT-SIZE:11pt">Face value of Convertible Debenture due January 2015</font></p></td>
     <td width="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="87" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right">&nbsp;</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">$</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">&nbsp;</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">1,765,000</p></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Fair value of embedded conversion feature</p></td>
     <td width="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">$</p></td>
     <td width="87" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">1,180,000</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Relative fair value of Convertible Debenture Warrant</p></td>
     <td width="8" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="87" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">214,819</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Discount</p></td>
     <td width="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">$</p></td>
     <td width="87" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">1,394,819</p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">(1,394,819)</p></td>
    </tr>
    <tr>
     <td width="256" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Proceeds attributable to the Convertible Debenture due January 2015</p></td>
     <td width="8" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="87" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br />&nbsp;</p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">370,181</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ScheduleOfDebtIssuanceCostTableTextBlock', window );">Schedule of Debt Issuance Cost [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="169"> </td>
     <td width="14"> </td>
     <td width="177"> </td>
     <td width="12"> </td>
     <td width="19"> </td>
     <td width="67"></td>
    </tr>
    <tr>
     <td width="169" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">Attributable to:</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">&nbsp;</p></td>
     <td width="177" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">Accounting Treatment</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">&nbsp;</p></td>
     <td width="87" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="center"><br /></p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">Amount</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">The embedded conversion feature (derivative)</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expensed as incurred</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="19" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">55,999</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">The 8% Convertible Debenture Warrant</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Charged to additional paid-in capital</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="19" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">10,194</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="19" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="top"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">The 8% Convertible Debenture</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="top"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
     <td width="19" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
     <td width="67" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">17,567</p></td>
    </tr>
    <tr>
     <td width="169" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:15px; MARGIN:0px">Total</p></td>
     <td width="14" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="177" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="12" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="19" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="67" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">83,760</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValueTableTextBlock', window );">Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="426"> </td>
     <td width="6"> </td>
     <td width="83"></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;&nbsp;</p></td>
     <td width="90" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">April 30,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">2014</p></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price used for valuation</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">8.50</p></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="left">266.68 shares issued per $1,000 face value</p></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment</p></td>
     <td width="6" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="83" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">1,456,797</p></td>
    </tr>
    <tr>
     <td width="426" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="6" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfExtinguishmentOfDebtTextBlock', window );">Schedule of Extinguishment of Debt [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="372"> </td>
     <td width="9"> </td>
     <td width="79"></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="88" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">Year Ended</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">October 31,</p> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">2014</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Face value of debt converted</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="79" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;&nbsp;1,440,000</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Less: discount</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="79" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;(658,232)</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Plus: fair value of derivative liability</p></td>
     <td width="9" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="79" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;&nbsp;1,670,704</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Net book value of debt converted</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="79" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;&nbsp;2,452,472</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Fair value of common stock issued</p></td>
     <td width="9" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">&nbsp;</p></td>
     <td width="79" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="center">&nbsp;&nbsp;2,935,387</p></td>
    </tr>
    <tr>
     <td width="372" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Loss on extinguishment of debt</p></td>
     <td width="9" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="79" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;&nbsp;(482,915)</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueJanuary2015Member', window );">Convertible Debenture Due January 2015 [Member] | Convertible Debentures Embedded Conversion Feature [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESTablesLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock', window );">Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="363"> </td>
     <td width="13"> </td>
     <td width="83"></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;&nbsp;</p></td>
     <td width="97" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">January 25,</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock price on valuation date</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">5.25</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Conversion price</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">3.75</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock premium for liquidity</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">57%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Term (years)</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">2.00</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expected volatility</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">110%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Weighted average risk-free interest rate</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">0.3%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Trials</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">100,000</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Aggregate fair value</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">1,180,000</p></td>
    </tr>

  </table><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="380"> </td>
     <td width="13"> </td>
     <td width="67"></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="80" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="center"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">October 31,</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="center"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock price on valuation date</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Conversion price</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock premium for liquidity</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">42%</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Term (years)</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">1.25</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expected volatility</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">115%</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Weighted average risk-free interest rate</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">0.3%</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Trials</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="right"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">100,000</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Aggregate fair value</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px">$ &nbsp;540,000</p></td>
    </tr>
    <tr>
     <td width="380" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p></td>
     <td width="67" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(255,255,255)"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueJanuary2015Member', window );">Convertible Debenture Due January 2015 [Member] | Convertible Debenture Warrant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESTablesLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock', window );">Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="363"> </td>
     <td width="13"> </td>
     <td width="76"></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="90" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">January 25,</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt" align="center"><br /></p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock price on valuation date</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">5.25</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Exercise price</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">7.50</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Stock premium for liquidity</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">38%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Term (years)</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px; PADDING-RIGHT:2px" align="right">3.00</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Warrant exercise trigger price</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">41%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Expected volatility</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">95%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Weighted average risk-free interest rate</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">0.4%</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Number of warrants</p></td>
     <td width="13" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;</p></td>
     <td width="76" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;5,882,745</p></td>
    </tr>
    <tr>
     <td width="363" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">Aggregate fair value</p></td>
     <td width="13" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px">$</p></td>
     <td width="76" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:2px; MARGIN:0px" align="right">&nbsp;370,000</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESTablesLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebtTableTextBlock', window );">Convertible Debt [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="351"> </td>
     <td width="11"> </td>
     <td width="83"> </td>
     <td width="8"> </td>
     <td width="11"> </td>
     <td width="101"></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Face value of Convertible Debenture due November 2016</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align="right">3,500,000</p></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Fair value of embedded conversion feature</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">1,570,000</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Relative fair value of Convertible Debenture Warrant</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="83" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">515,936</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="101" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; PADDING-LEFT:13px; MARGIN:0px; PADDING-RIGHT:2px">Discount</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="83" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">2,085,936</p></td>
     <td width="9" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">&nbsp;</p></td>
     <td width="101" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">(2,085,936)</p></td>
    </tr>
    <tr>
     <td width="351" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Proceeds attributable to the Convertible Debenture due November 2016</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="92" colspan="2" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="11" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="101" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:6px" align="right">1,414,064</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member] | Convertible Debentures Embedded Conversion Feature [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESTablesLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAssumptionsForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrServicingLiabilitiesTextBlock', window );">Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="286"> </td>
     <td width="11"> </td>
     <td width="86"></td>
    </tr>
    <tr>
     <td width="384" colspan="3" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><br /></p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="97" colspan="2" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">As of</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">November 11,</p> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="center">2013</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Stock price on valuation date</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">5.00</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Conversion price</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">4.725</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Discount for lack of marketability</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">35.5%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Term (years)</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">3.00</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Expected volatility</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">102.8%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Weighted average risk-free interest rate</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">0.62%</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Trials</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px" align="right">&nbsp;</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px; BACKGROUND-COLOR:rgb(204,238,255)" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">100,000</p></td>
    </tr>
    <tr>
     <td width="286" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">Aggregate fair value</p></td>
     <td width="11" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:2px">$</p></td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px; PADDING-RIGHT:4px" align="right">1,570,000</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESTablesLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfExtinguishmentOfDebtTextBlock', window );">Schedule of Extinguishment of Debt [Table Text Block]</a></td>
<td class="text"><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="444">&nbsp;</td>
     <td width="11">&nbsp;</td>
     <td width="105">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="116"><p style="margin: 0px;" align="center">&nbsp;</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;"><font style="text-decoration: underline;">Securities extinguished:</font></p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="top" width="116"><p style="margin: 0px;">&nbsp;</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">Face value of convertible debenture converted</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">$</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">3,500,000</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Less: debt discount</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 0px;" align="right">(1,684,801)</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Less: deferred issuance costs</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 0px;" align="right">(7,739)</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444" height="4"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Plus: accrued interest</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11" height="4"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105" height="4"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">173,833</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Plus: fair value of derivative liability</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">1,032,241</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Plus: fair value of warrant exchanged in connection with the conversion</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">805,000</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">Net book value of converted debenture, accrued interest, derivative &nbsp;&nbsp;</p><p style="font-size: 11pt; padding-left: 13px; margin: 0px; padding-right: 2px;">&nbsp;&nbsp;&nbsp;liability and warrant exchanged</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">3,818,534</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;"><font style="text-decoration: underline;">Securities issued in conversion/exchange:</font></p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">&nbsp;</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">Fair value of 100,800 shares of common stock issued, net (739,958</p><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;&nbsp;&nbsp;shares of Conversion Common Stock issued, less 639,158 shares</p><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;&nbsp;&nbsp;exchanged for 3,500 shares of Series A Convertible Preferred Stock)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">617,400</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">Fair value of 3,500 shares of Series A Convertible Preferred Stock (based</p><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;&nbsp;&nbsp;on a stated value per share of $1,000 and a conversion rate of $4.73)</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">4,532,241</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">Fair value of warrant issued September 9, 2014</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">885,000</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; padding-left: 24px; margin: 0px; padding-right: 2px;">Subtotal of securities issued in conversion/exchange</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 6px;" align="right">6,034,641</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="444"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">(Loss) on conversion/exchange</p></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="11"><p style="font-size: 11pt; margin: 0px; padding-right: 2px;">$</p></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; background-color: #cceeff; padding: 0px;" valign="bottom" width="105"><p style="font-size: 11pt; margin: 0px; padding-right: 0px;" align="right">(2,216,107)</p></td>
    </tr>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the cost related to issuance of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of all information related to the key inputs and assumptions (including, at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses) used in measuring the fair value of assets or liabilities that relate to the transferor's continuing involvement with transferred financial assets, as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 860<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51814546&amp;loc=d3e107314-111719<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7516071&amp;loc=d3e13374-112631<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY (Tables)<br></strong></div></th>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="269" valign="bottom"> </td>
     <td width="96" valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="120" align="center" valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" valign="bottom"></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p> <p style="MARGIN:0px"><br />&nbsp;</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">Shares</font></p></td>
     <td valign="bottom">&nbsp;</td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" align="center" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">Weighted <br />Average Exercise <br />Price Per Share</font></p></td>
     <td valign="bottom">&nbsp;</td>
     <td colspan="2" style="BORDER-BOTTOM:#000000 1px solid" valign="bottom"> <p align="center"><font style="FONT-SIZE:11pt">Aggregate <br />Intrinsic Value</font></p></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, 2013</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">625,554</p></td>
     <td> </td>
     <td><font style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">18.00</p></td>
     <td> </td>
     <td> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">(17,400)</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;&nbsp;3.63</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Forfeited</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">(114,163)</p></td>
     <td> </td>
     <td><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">19.75</p></td>
     <td> </td>
     <td> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding &nbsp;at October 31, 2014</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">493,991</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">18.00</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;(4,000)</p></td>
     <td> </td>
     <td><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&nbsp;&nbsp;2.58</p></td>
     <td> </td>
     <td> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Forfeited</p></td>
     <td width="96" style="BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">(123,771)</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">14.71</p></td>
     <td valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="269" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding and Exercisable at October 31, 2015</p></td>
     <td width="96" style="BORDER-BOTTOM:#000000 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right"><font style="FONT-SIZE:11pt">&nbsp;&nbsp;&nbsp;366,200</font></p></td>
     <td> </td>
     <td><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="120" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">17.86</p></td>
     <td> </td>
     <td><font size="3" style="FONT-SIZE:11pt">$</font></td>
     <td width="112" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">61,665</p></td>
    </tr>

  </table><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="278" valign="bottom"> </td>
     <td width="96" valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="132" valign="bottom"> </td>
     <td valign="bottom"> </td>
     <td width="86" valign="bottom"></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align="center">Shares</p></td>
     <td valign="bottom">&nbsp;</td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align="center">&nbsp;Weighted Average Exercise Price Per Share</p></td>
     <td valign="bottom">&nbsp;</td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align="center">Aggregate Intrinsic Value</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px"><br /></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, 2013</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119,360</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.13</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Granted</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612,400</p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.75</p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px" align="center">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,200)</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.00</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, &nbsp;2014</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728,560</p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.75</p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; PADDING-LEFT:7px; MARGIN:0px">Granted</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60,400</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2.91</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Exercised</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13,334)</p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2.58</p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;Forfeited</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(249,355)</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6.24</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="MARGIN:0px">&nbsp;</p></td>
    </tr>
    <tr>
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, &nbsp;2015</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526,271</p></td>
     <td valign="bottom"> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3.33</p></td>
     <td valign="bottom"> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$ 471,292</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="278" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Exercisable at October 31, 2015</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 3px double; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px 0.04in 0px 0px; PADDING-RIGHT:0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406,149</p></td>
     <td> </td>
     <td width="132" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3.40</p></td>
     <td> </td>
     <td width="86" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&nbsp;$ 342,572</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_P2003SharePlanMember', window );">2003 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYTablesLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock', window );">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center">

    <tr style="FONT-SIZE:0px">
     <td width="138" valign="bottom"> </td>
     <td width="96" valign="bottom"> </td>
     <td width="143" valign="bottom"> </td>
     <td width="90" align="center" valign="bottom"></td>
    </tr>
    <tr>
     <td width="138" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Range of<br />Exercise Prices</p></td>
     <td width="96" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Number<br />Outstanding</p></td>
     <td width="143" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Weighted Average<br />Remaining</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Contractual Life </p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">(in years)</p></td>
     <td width="90" style="BORDER-BOTTOM:rgb(0,0,0) 1px solid; PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Weighted Average<br />Exercise Price</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="138" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$ &nbsp;1.79 - $ &nbsp;9.25</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">73,880</p></td>
     <td width="143" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">1.75</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$ &nbsp;2.91</p></td>
    </tr>
    <tr>
     <td width="138" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$14.75 - $17.25</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">59,600</p></td>
     <td width="143" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">1.33</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$16.75</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td width="138" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$18.75 - $23.00</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">192,720</p></td>
     <td width="143" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">1.14</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$21.57</p></td>
    </tr>
    <tr>
     <td width="138" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$29.25</p></td>
     <td width="96" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">40,000</p></td>
     <td width="143" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">1.80</p></td>
     <td width="90" style="PADDING-BOTTOM:0px; PADDING-TOP:0px; PADDING-LEFT:0px; MARGIN-TOP:0px; PADDING-RIGHT:0px" align="center" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">$29.25</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember', window );">2010 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYTablesLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock', window );">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]</a></td>
<td class="text"><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td valign="bottom" width="96">&nbsp;</td>
     <td valign="bottom" width="90">&nbsp;</td>
     <td valign="bottom" width="60">&nbsp;</td>
     <td valign="bottom" width="24">&nbsp;</td>
     <td valign="bottom" width="72">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom" width="90">&nbsp;</td>
     <td valign="bottom" width="65">&nbsp;</td>
     <td valign="bottom" width="18">&nbsp;</td>
     <td valign="bottom" width="77">&nbsp;</td>
    </tr>
    <tr>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="4" valign="bottom"><p align="center"><font style="font-size: 11pt;">Options Outstanding</font></p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="4" valign="bottom"><p align="center"><font style="font-size: 11pt;">Options Exercisable</font></p></td>
    </tr>
    <tr>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">Range of<br />Exercise<br />Prices</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">Number<br />Outstanding</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Remaining<br />Contractual Life</p><p style="font-size: 11pt; margin: 0px;" align="center">(in years)</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="72"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Exercise Price</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">Number<br />Exercisable</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Remaining<br />Contractual Life<br />(in years)</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="77"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Exercise Price</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="96"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="84"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="72"><p style="margin: 0px;">&nbsp;</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="84"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="77"><p style="margin: 0px;" align="center">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">$2.58 - $9.25</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">526,271</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">6.98</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="72"><p style="font-size: 11pt; margin: 0px;" align="center">$3.33</p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">406,149</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">6.57</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="77"><p style="font-size: 11pt; margin: 0px;" align="center">$3.40</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="72"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" width="84"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="77"><p style="display: none; font-size: 11pt; margin: 0px;" align="center">.</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYTablesLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Tables) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock', window );">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]</a></td>
<td class="text"><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td width="138">&nbsp;</td>
     <td>&nbsp;</td>
     <td width="96">&nbsp;</td>
     <td>&nbsp;</td>
     <td width="143">&nbsp;</td>
     <td>&nbsp;</td>
     <td width="90">&nbsp;</td>
    </tr>
    <tr>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="138"><p style="font-size: 11pt; margin: 0px;" align="center">Range of<br />Exercise Prices</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">Number<br />Outstanding</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="143"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Remaining<br />Contractual Life</p><p style="font-size: 11pt; margin: 0px;" align="center">(in years)</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">Weighted Average<br />Exercise <br />Price</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="138"><p style="font-size: 11pt; margin: 0px;" align="center">$ 2.58 - $ 5.56</p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">1,780,000</p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="143"><p style="font-size: 11pt; margin: 0px;" align="center">6.76</p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="90"><p style="font-size: 11pt; margin: 0px;" align="center">$ &nbsp;2.71</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="138"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="96"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="143"><p style="font-size: 11pt; margin: 0px;" align="center">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="top" width="90"><p style="display: none; font-size: 11pt; margin: 0px;" align="center">.</p></td>
    </tr>

  </table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_SHAREHOLDERSEQUITYTablesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SHAREHOLDERSEQUITYTablesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752831152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Oct. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock', window );">Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]</a></td>
<td class="text"><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr style="font-size: 0px;">
     <td valign="bottom" width="270">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom" width="102">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom" width="108">&nbsp;</td>
    </tr>
    <tr>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="5" valign="bottom"><p align="center"><font style="font-size: 11pt;">Year Ended October 31,</font></p></td>
    </tr>
    <tr>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="2" valign="bottom"><p align="center"><font style="font-size: 11pt;">2015</font></p></td>
     <td valign="bottom"><font style="font-size: 11pt;">&nbsp;</font></td>
     <td style="border-bottom: #000000 1px solid;" colspan="2" valign="bottom"><p align="center"><font style="font-size: 11pt;">2014</font></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="270"><p style="font-size: 11pt; margin: 0px;">Federal:</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="108"><p style="margin: 0px;">&nbsp;</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="270"><p style="font-size: 11pt; margin: 0px; text-indent: 12px;">Current</p></td>
     <td valign="bottom"><font style="font-size: 11pt;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom"><font style="font-size: medium;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="108"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="270"><p style="font-size: 11pt; margin: 0px; text-indent: 12px;">Deferred</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px;" align="right">(487,000)</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="108"><p style="font-size: 11pt; margin: 0px;" align="right">(1,606,000)</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="270"><p style="font-size: 11pt; margin: 0px;">State:</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="102"><p style="margin: 0px;" align="right">&nbsp;</p></td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="108"><p style="margin: 0px;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="270"><p style="font-size: 11pt; margin: 0px; text-indent: 12px;">Current</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">-</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="108"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">-</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="270"><p style="font-size: 11pt; margin: 0px; text-indent: 12px;">Deferred</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="102"><p style="font-size: 11pt; margin: 0px;" align="right">(120,000)</p></td>
     <td valign="bottom">&nbsp;</td>
     <td valign="bottom">&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="108"><p style="font-size: 11pt; margin: 0px;" align="right">&nbsp;(1,000)</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="270"><p style="font-size: 11pt; padding-left: 24px; margin: 0px; text-indent: -24px;">Adjustment to valuation allowance related</p><p style="font-size: 11pt; padding-left: 24px; margin: 0px; text-indent: -24px;">&nbsp;&nbsp;&nbsp;to net deferred tax assets</p></td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">607,000</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" width="108"><p style="margin-bottom: -2px; font-size: 11pt; width: 20px; float: left; margin-top: 0px; text-indent: 4px;">&nbsp;</p><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;1,607,000</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="270"><font style="color: #000000; font-family: times new roman,times; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; display: none ! important; float: none; background-color: #ffffff;">Income tax provision (benefit)</font></td>
     <td style="border-bottom: #000000 3px double;" valign="bottom"><font style="font-size: medium;">$</font></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" valign="bottom" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td valign="bottom">&nbsp;</td>
     <td style="border-bottom: #000000 3px double;" valign="bottom"><font style="font-size: medium;">$</font></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" valign="bottom" width="108"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>

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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</a></td>
<td class="text"><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;" colspan="2"><p align="center"><font style="font-size: 11pt;">2015</font></p></td>
     <td><p align="center">&nbsp;</p></td>
     <td style="border-bottom: #000000 1px solid;" colspan="2"><p align="center"><font style="font-size: 11pt;">2014</font></p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px;">Long-term deferred tax assets:</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="340"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Federal and state NOL and tax credit carryforwards</p></td>
     <td><font style="font-size: 11pt;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" width="114"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;31,261,000</p></td>
     <td>&nbsp;</td>
     <td><font style="font-size: medium;">$</font></td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;31,864,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Deferred compensation</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">6,522,000</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">5,437,000</p></td>
    </tr>
    <tr>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;" width="25"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;" width="340"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Intangibles</p></td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;" width="114"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px; text-indent: 35px;" align="right">483,000</p></td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;Other</p></td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px; text-indent: 35px;" align="right">282,000</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">359,000</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="340"><p style="font-size: 11pt; margin: 0px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal</p></td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="114"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">38,548,000</p></td>
     <td>&nbsp;</td>
     <td>&nbsp;</td>
     <td style="margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">37,660,000</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px; margin-top: 0px; padding: 0px;">&nbsp;</td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" width="25"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="340"><p style="font-size: 11pt; margin: 0px;">Less: valuation allowance</p></td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" width="114"><p style="font-size: 11pt; margin: 0px; text-indent: 7px;" align="right">(38,548,000)</p></td>
     <td>&nbsp;</td>
     <td style="border-bottom: #000000 1px solid;">&nbsp;</td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" width="102"><p style="font-size: 11pt; margin: 0px; text-indent: 7px;" align="right">(37,660,000)</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: 0px;"><p style="font-size: 11pt; margin: 0px; text-indent: 16px;">Deferred tax asset, net</p></td>
     <td style="border-bottom: #000000 3px double;"><font style="font-size: medium;">$</font></td>
     <td style="border-bottom: #000000 3px double;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="border-bottom: 0px;">&nbsp;</td>
     <td style="border-bottom: #000000 3px double;"><font style="font-size: medium;">$</font></td>
     <td style="border-bottom: #000000 3px double;"><p style="font-size: 11pt; margin: 0px 0.04in 0px 0px; padding-right: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
    </tr>

  </table><span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]</a></td>
<td class="text"><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center">

    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="4" valign="bottom" width="288"><p style="border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;" align="center">Year Ended October 31,</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">&nbsp;</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="144"><p style="border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;" align="center">2015</p></td>
     <td style="margin-top: 0px; padding: 0px;" colspan="2" valign="bottom" width="144"><p style="border-bottom: #000000 1px solid; padding-bottom: 1px; margin: 0px;" align="center">2014</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="168"><p style="margin: 0px;">Income tax benefit at U.S.</p><p style="margin: 0px;">&nbsp;&nbsp;&nbsp;Federal statutory income</p><p style="margin: 0px;">&nbsp;&nbsp;&nbsp;Tax rate</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(469,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;(34.00%)</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">$&nbsp;&nbsp;&nbsp;&nbsp;(3,266,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;(34.00%)</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">State income taxes</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">(117,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;&nbsp;(8.50%)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">(.06%)</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="168"><p style="margin: 0px;">Permanent differences</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">.10%</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">1,529,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">15.92%</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">Expiring net operating</p><p style="margin: 0px;">&nbsp;&nbsp;&nbsp;losses, credits and other</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22,000)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;(1.60%)</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;115,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">1.19%</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="168"><p style="padding-left: 24px; margin: 0px; text-indent: -24px;">Foreign rate difference on</p><p style="padding-left: 24px; margin: 0px; text-indent: -24px;">&nbsp;&nbsp;&nbsp;impairment</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">0%</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">21,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">.22%</p></td>
    </tr>
    <tr>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="168"><p style="margin: 0px;">Change in valuation &nbsp;</p><p style="margin: 0px;">&nbsp;&nbsp;&nbsp;allowance</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">44.00%</p></td>
     <td style="border-bottom: #000000 1px solid; margin-top: 0px; padding: 0px;" valign="bottom" width="84"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;1,607,000</p></td>
     <td style="margin-top: 0px; padding: 0px;" valign="bottom" width="60"><p style="margin: 0px;" align="right">&nbsp;</p><p style="margin: 0px;" align="right">&nbsp;16.73%</p></td>
    </tr>
    <tr style="background-color: #cceeff;">
     <td style="margin-top: 0px; padding: 0px;" width="168"><p style="margin: 0px;">Income tax provision</p></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">0%</p></td>
     <td style="border-bottom: #000000 3px double; margin-top: 0px; padding: 0px;" width="84"><p style="margin: 0px;" align="right">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p></td>
     <td style="margin-top: 0px; padding: 0px;" width="60"><p style="margin: 0px;" align="right">0%</p></td>
    </tr>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6842213024">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BUSINESS AND FUNDING (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 29, 2014</div></th>
<th class="th"><div>Sep. 09, 2014</div></th>
<th class="th"><div>Aug. 29, 2014</div></th>
<th class="th"><div>Jul. 15, 2014</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Nov. 30, 2013</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 2,000,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LegalFees', window );">Legal Fees</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,604,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction', window );">Sale of Stock, Number of Shares Issued in Transaction (in Shares)</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">640,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleOfStockPricePerShare', window );">Sale of Stock, Price Per Share (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 6.25<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from Issuance of Common Stock</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 4,000,000<span></span>
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<td class="nump">$ 3,673,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 3,673,135<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">87,249<span></span>
</td>
<td class="nump">87,882<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net Cash Provided by (Used in) Operating Activities</a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,363,367<span></span>
</td>
<td class="num">(2,379,261)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net Cash Provided by (Used in) Investing Activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45,224<span></span>
</td>
<td class="num">(2,506,684)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments', window );">Proceeds from Maturities, Prepayments and Calls of Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireShortTermInvestments', window );">Payments to Acquire Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,900,000<span></span>
</td>
<td class="nump">5,200,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to Acquire Property, Plant, and Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54,776<span></span>
</td>
<td class="nump">6,684<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net Cash Provided by (Used in) Financing Activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(400,618)<span></span>
</td>
<td class="nump">7,349,019<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Stock Repurchased During Period, Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 445,000<span></span>
</td>
<td class="num">$ (4,134,516)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Stock Repurchased During Period, Shares (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">92,232<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from Stock Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 44,635<span></span>
</td>
<td class="nump">$ 75,875<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashPeriodIncreaseDecrease', window );">Cash, Period Increase (Decrease)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">908,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsAndShortTermInvestments', window );">Cash, Cash Equivalents, and Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,769,000<span></span>
</td>
<td class="nump">$ 5,861,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=itus_ConvertibleDebentureMember', window );">Convertible Debenture [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfPrivatePlacement', window );">Proceeds from Issuance of Private Placement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_CommonStockMember', window );">Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Stock Issued During Period, Shares, Conversion of Convertible Securities (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">739,958<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesConverted1', window );">Conversion of Stock, Shares Converted (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">639,159<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_ConvertiblePreferredStockMember', window );">Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Stock Issued During Period, Shares, Conversion of Convertible Securities (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_NationalSecuritiesCorporationMember', window );">National Securities Corporation [Member] | Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common Stock, Value, Issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_AUOSettlementMember', window );">AUO Settlement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLegalSettlements', window );">Proceeds from Legal Settlements</a></td>
<td class="nump">$ 9,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_PatentAssignmentAgreementMember', window );">Patent Assignment Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLegalSettlements', window );">Proceeds from Legal Settlements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_SubsidiaryLoanMember', window );">Subsidiary Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtOfSubsidiaryNotAssumed', window );">Debt of Subsidiary, Not Assumed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_MarsLoanMember', window );">Mars Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtOfSubsidiaryNotAssumed', window );">Debt of Subsidiary, Not Assumed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction', window );">Sale of Stock, Number of Shares Issued in Transaction (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_GlobalDepositoryReceiptsMember', window );">Global Depository Receipts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_BUSINESSANDFUNDINGDetailsLineItems', window );"><strong>BUSINESS AND FUNDING (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Stock Issued During Period, Shares, New Issues (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,495,845<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_BUSINESSANDFUNDINGDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_BUSINESSANDFUNDINGDetailsLineItems</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsAndShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsAndShortTermInvestments</td>
</tr>
<tr>
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<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash. Cash is the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesConverted1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesConverted1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtOfSubsidiaryNotAssumed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Debt of a subsidiary that has not been assumed or guaranteed by the entity and any liens on premises of a subsidiary, or its consolidated subsidiaries, which have not been assumed by the entity, or its consolidated subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtOfSubsidiaryNotAssumed</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LegalFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LegalFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfPrivatePlacement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfPrivatePlacement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLegalSettlements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash received for the settlement of litigation during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLegalSettlements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from maturities, prepayments, calls and collections of all investments, including securities and other assets, having ready marketability and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (j)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued or sold by the subsidiary or equity method investee per stock transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleOfStockPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleOfStockPricePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-30)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=itus_ConvertibleDebentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=itus_ConvertibleDebentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_ConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_ConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_NationalSecuritiesCorporationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_NationalSecuritiesCorporationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementScenarioAxis=itus_AgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=itus_AgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_AUOSettlementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_AUOSettlementMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_PatentAssignmentAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_PatentAssignmentAgreementMember</td>
</tr>
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<td>na</td>
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<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_SubsidiaryLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_SubsidiaryLoanMember</td>
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<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_MarsLoanMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_GlobalDepositoryReceiptsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_GlobalDepositoryReceiptsMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6840876320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 29, 2014</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LicenseAndServicesRevenue', window );">License and Services Revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,187,320<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLegalSettlements', window );">Proceeds from Legal Settlements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermInvestments', window );">Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,400,000<span></span>
</td>
<td class="nump">$ 2,500,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_ConvertiblePreferredStockMember', window );">Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">739,958<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=itus_AwardsOfOptionsWith10YearTermsMember', window );">Awards Of Options With 10 Year Terms [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription', window );">Share Based Compensation Arrangement By Share Based Payment Award, Award Vesting Period, Description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The stock options we granted during the year ended October 31, 2015 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months.<span></span>
</td>
<td class="text">The stock options we granted during the year ended October 31, 2014 consisted of awards with 10-year terms that vest over one year, options with 10-year terms that vest over 36 months, options with 5-year terms which vest immediately and options with 10-year terms which vest upon achievement of performance milestones.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,672,471<span></span>
</td>
<td class="nump">3,002,550<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_AUOLicenseAgreementMember', window );">AUO License Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LicenseAndServicesRevenue', window );">License and Services Revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_LicenseAgreementAggregateLicenseFee', window );">License Agreement, Aggregate License Fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_LicenseAgreementContingentLicenseFeeReceivable', window );">License Agreement, Contingent License Fee, Receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred Revenue, Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,187,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_AUOSettlementMember', window );">AUO Settlement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLegalSettlements', window );">Proceeds from Legal Settlements</a></td>
<td class="nump">$ 9,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_StockAwardGrantedToEmployeesAndConsultantsMember', window );">Stock Award Granted To Employees And Consultants [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based Compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">484,000<span></span>
</td>
<td class="nump">1,022,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AmortizationRelatedToCompensationCost', window );">Amortization Related To Compensation Cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">484,000<span></span>
</td>
<td class="nump">964,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_StockOptionsGrantedToEmployeesAndDirectorsMember', window );">Stock Options Granted To Employees And Directors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">432,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based Compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,192,000<span></span>
</td>
<td class="nump">2,128,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AmortizationRelatedToCompensationCost', window );">Amortization Related To Compensation Cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,092,781<span></span>
</td>
<td class="nump">$ 1,426,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, Plant and Equipment, Useful Life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year 36 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_WarrantMember', window );">Warrant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,028,931<span></span>
</td>
<td class="nump">1,044,931<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Licensees 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration Risk, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53.00%<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Licensees 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration Risk, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37.00%<span></span>
</td>
<td class="nump">16.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Licensees 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration Risk, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">14.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Licensees 4 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration Risk, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_PatentsMember', window );">Patents [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AcquisitionCosts', window );">Acquisition Costs, Period Cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 3,036,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfAcquisitionCosts', window );">Amortization of Acquisition Costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 325,000<span></span>
</td>
<td class="nump">$ 314,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization related to compensation cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate license fees receivable as per agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount receivable based upon the occurrence of an event specified in the contractual terms.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of vesting period related to the share based compensation arrangement by share based payment award.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriodDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AcquisitionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The capitalized costs incurred during the period (excluded from amortization) to purchase, lease or otherwise acquire an unproved property, including costs of lease bonuses and options to purchase or lease properties, the portion of costs applicable to minerals when land including mineral rights is purchased in fee, brokers' fees, recording fees, legal costs, and other costs incurred in acquiring properties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 932<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-10.(c)(7)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=50486907&amp;loc=d3e511914-122862<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 10<br> -Paragraph c<br> -Subparagraph 3(ii)(A)<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AcquisitionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfAcquisitionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of capitalized costs associated with acquisition of business. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfAcquisitionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Antidilution<br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Diluted Earnings Per Share<br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Contingent Stock Agreement<br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskPercentage1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6351-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13531-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6404-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LicenseAndServicesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue from multiple-deliverable arrangements that include licensing fees and services revenue. Licensing revenue is consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Services revenue may be derived by providing other, nonspecified, services during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(d),(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LicenseAndServicesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLegalSettlements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash received for the settlement of litigation during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLegalSettlements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 1<br> -Subparagraph g<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_ConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis=us-gaap_ConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=itus_AwardsOfOptionsWith10YearTermsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=itus_AwardsOfOptionsWith10YearTermsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_AUOLicenseAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_AUOLicenseAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_AUOSettlementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_AUOSettlementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_StockAwardGrantedToEmployeesAndConsultantsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_StockAwardGrantedToEmployeesAndConsultantsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_StockOptionsGrantedToEmployeesAndDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_StockOptionsGrantedToEmployeesAndDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_WarrantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_WarrantMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_Licensees1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_Licensees1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_Licensees2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_Licensees2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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</table>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6763775024">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis - USD ($)<br></strong></div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations', window );">Patent acquisition obligation</a></td>
<td class="nump">$ 3,688,187<span></span>
</td>
<td class="nump">$ 3,236,281<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInvestmentsByCategoryAxis=itus_GlobalDepositoryReceiptsMember', window );">Global Depository Receipts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,655,964<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAxis=us-gaap_MoneyMarketFundsMember', window );">Money Market Funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Money market funds &#8211; Cash and cash equivalents</a></td>
<td class="nump">467,967<span></span>
</td>
<td class="nump">$ 155,964<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAxis=us-gaap_CertificatesOfDepositMember', window );">Certificates of Deposit [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments</a></td>
<td class="nump">2,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total financial assets</a></td>
<td class="nump">$ 2,867,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Fair Value, Inputs, Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations', window );">Patent acquisition obligation</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Fair Value, Inputs, Level 1 [Member] | Global Depository Receipts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 155,964<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Money market funds &#8211; Cash and cash equivalents</a></td>
<td class="nump">$ 467,967<span></span>
</td>
<td class="nump">$ 155,964<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total financial assets</a></td>
<td class="nump">$ 467,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations', window );">Patent acquisition obligation</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member] | Global Depository Receipts [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,500,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Money market funds &#8211; Cash and cash equivalents</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments</a></td>
<td class="nump">$ 2,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Total financial assets</a></td>
<td class="nump">2,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Fair Value, Inputs, Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations', window );">Patent acquisition obligation</a></td>
<td class="nump">$ 3,688,187<span></span>
</td>
<td class="nump">$ 3,236,281<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text"> <span></span>
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<td class="text"> <span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESDetailsHierarchyforourfinancialassetsandliabilitiesmeasuredatfairvalueonarecurringbasisLineItems', window );"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Hierarchy for our financial assets and liabilities measured at fair value on a recurring basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text"> <span></span>
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<td class="text">&#160;<span></span>
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<td class="text"> <span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of obligations measured on a recurring basis.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Trading Securities<br> -URI http://asc.fasb.org/extlink&amp;oid=6526789<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=27723805&amp;loc=d3e24584-111560<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51813488&amp;loc=d3e22054-111558<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Available-for-Sale Securities<br> -URI http://asc.fasb.org/extlink&amp;oid=6505594<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 1<br> -Subparagraph a, f, g<br> -Article 7<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Summary of the changes in the fair value of the Company's Level 3 financial liabilities on recurring basis (Incomplete) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_PatentAcquisitionObligationAbstract', window );"><strong>Patent acquisition obligation:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations', window );">Initial fair value</a></td>
<td class="nump">$ 3,688,187<span></span>
</td>
<td class="nump">$ 3,236,281<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense', window );">Accretion of interest on patent obligation</a></td>
<td class="nump">451,906<span></span>
</td>
<td class="nump">$ 385,770<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance</a></td>
<td class="nump">3,688,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByLiabilityClassAxis=itus_PatentAcquisitionObligationMember', window );">Patent Acquisition Obligation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_PatentAcquisitionObligationAbstract', window );"><strong>Patent acquisition obligation:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance October 31, 2013</a></td>
<td class="nump">3,236,281<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations', window );">Initial fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,850,511<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense', window );">Accretion of interest on patent obligation</a></td>
<td class="nump">$ 451,906<span></span>
</td>
<td class="nump">385,770<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,236,281<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accretion of interest on patent acquisition obligations to interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of obligations measured on a recurring basis.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6763176384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Weighted average assumptions used in estimating the fair value of stock options - $ / shares<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WeightedAverageAssumptionsUsedInEstimatingTheFairValueOfStockOptionsAbstract', window );"><strong>Weighted average assumptions used in estimating the fair value of stock options [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average fair value at grant date (in Dollars per share)</a></td>
<td class="nump">$ 3.09<span></span>
</td>
<td class="nump">$ 5.75<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ValuationAssumptionsAbstract', window );"><strong>Valuation assumptions:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected life ( years)</a></td>
<td class="text">5 years 9 months<span></span>
</td>
<td class="text">5 years 292 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">117.80%<span></span>
</td>
<td class="nump">115.30%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Risk-free interest rate</a></td>
<td class="nump">2.01%<span></span>
</td>
<td class="nump">1.82%<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Expected dividend yield</a></td>
<td class="nump">0.00%<span></span>
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<td class="nump">0.00%<span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iv)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 14.D.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br> -Section D<br> -Subsection 2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6842224432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">10 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Aug. 29, 2014</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
<th class="th"><div>Nov. 30, 2007</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_INVESTMENTSDetailsLineItems', window );"><strong>INVESTMENTS (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CertificatesOfDepositAtCarryingValue', window );">Certificates of Deposit, at Carrying Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,400,000<span></span>
</td>
<td class="nump">$ 2,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquitySecuritiesByInvestmentObjectiveAxis=itus_InvestmentInVideoconMember', window );">Investment In Videocon [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_INVESTMENTSDetailsLineItems', window );"><strong>INVESTMENTS (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleEquitySecuritiesAmortizedCostBasis', window );">Available-for-sale Equity Securities, Amortized Cost Basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,200,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment', window );">Equity Method Investment, Other than Temporary Impairment</a></td>
<td class="nump">$ 63,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset', window );">Impaired Assets to be Disposed of by Method Other than Sale, Carrying Value of Asset</a></td>
<td class="nump">$ 4,135,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SharesExchangedForGDR', window );">Shares Exchanged for GDR (in Shares)</a></td>
<td class="nump">800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld', window );">Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held</a></td>
<td class="nump">$ 12,065,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_INVESTMENTSDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_INVESTMENTSDetailsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td>xbrli:stringItemType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares exchanged for GDRs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SharesExchangedForGDR</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleEquitySecuritiesAmortizedCostBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the cost of equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments for other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleEquitySecuritiesAmortizedCostBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CertificatesOfDepositAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A savings certificate entitling the Entity (that is, bearer) to receive interest at an established maturity date, based upon a fixed interest rate.  A certificate of deposit may be issued in any denomination. Certificates of deposit are generally issued by commercial banks and, therefore, insured by the FDIC (up to the prescribed limit).  Certificates of deposit generally restrict holders from withdrawing funds on demand without the incurrence of penalties.  Generally, only certificates of deposit with original maturities of three months or less qualify as cash equivalents. Original maturity means original maturity to the entity holding the investment. As a related example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CertificatesOfDepositAtCarryingValue</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents an other than temporary decline in value that has been recognized against an investment accounted for under the equity method of accounting. The excess of the carrying amount over the fair value of the investment represents the amount of the write down which is or was reflected in earnings. The written down value is a new cost basis with the adjusted value of the investment becoming its new carrying value subject to the equity accounting method. Evidence of a loss in value might include, but would not necessarily be limited to, absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 35<br> -Paragraph 32<br> -URI http://asc.fasb.org/extlink&amp;oid=49116238&amp;loc=d3e32787-111569<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount on the books of the entity of the impaired asset to be disposed of by a method other than sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2611-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of credit losses recognized in earnings related to debt securities held for which a portion of an other than temporary impairment (OTTI) was recognized in other comprehensive income (a component of shareholders' equity).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27340-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquitySecuritiesByInvestmentObjectiveAxis=itus_InvestmentInVideoconMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquitySecuritiesByInvestmentObjectiveAxis=itus_InvestmentInVideoconMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6739433584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS (Details) - The fair value of investment - Investment In Videocon [Member]<br></strong></div></th>
<th class="th" colspan="1">10 Months Ended</th>
</tr>
<tr><th class="th">
<div>Aug. 29, 2014 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFairValueOfSeparateAccountsByMajorCategoryOfInvestmentLineItems', window );"><strong>Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent', window );">Fair Value as of October 31, 2013</a></td>
<td class="nump">$ 4,197,341<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset', window );">Fair value of Videocon GDRs on date of disposition</a></td>
<td class="nump">4,134,516<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfInvestments', window );">Other than temporary impairment</a></td>
<td class="num">$ (62,825)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity securities categorized neither as held-to-maturity nor trading which are intended be sold more than one year from the balance sheet date or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51813488&amp;loc=d3e22054-111558<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49167202&amp;loc=d3e26626-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount on the books of the entity of the impaired asset to be disposed of by a method other than sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2611-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleCarryingValueOfAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount by which the fair value of an investment is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 35<br> -Paragraph 34<br> -URI http://asc.fasb.org/extlink&amp;oid=27723805&amp;loc=d3e25351-111560<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfFairValueOfSeparateAccountsByMajorCategoryOfInvestmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfFairValueOfSeparateAccountsByMajorCategoryOfInvestmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_InvestmentInVideoconMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_InvestmentInVideoconMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6760101264">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - Accounts payable and accrued liabilities - USD ($)<br></strong></div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountsPayableAndAccruedLiabilitiesAbstract', window );"><strong>Accounts payable and accrued liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">$ 374,703<span></span>
</td>
<td class="nump">$ 540,179<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Payroll and related expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">372,753<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedProfessionalFeesCurrent', window );">Accrued litigation expense, consulting and other professional fees</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">320,493<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Accrued other</a></td>
<td class="nump">$ 6,062<span></span>
</td>
<td class="nump">16,001<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent', window );">Total</a></td>
<td class="nump">$ 380,765<span></span>
</td>
<td class="nump">$ 1,249,426<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_AccountsPayableAndAccruedLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_AccountsPayableAndAccruedLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedProfessionalFeesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedProfessionalFeesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeRelatedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeRelatedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6845882992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2014 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Nov. 30, 2013 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 31, 2013 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Oct. 31, 2015 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Oct. 31, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Oct. 31, 2013 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 25, 2015 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromConvertibleDebt', window );">Proceeds from Convertible Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice', window );">Debt Instrument Prepayment Threshold Trading Days Ending Prior To Prepayment Notice</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebt', window );">Convertible Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,414,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LegalFees', window );">Legal Fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,604,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Debt Issuance Cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,156<span></span>
</td>
<td class="nump">$ 83,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Derivative, Gain (Loss) on Derivative, Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(592,945)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfDebtDiscountPremium', window );">Amortization of Debt Discount (Premium)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">634,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gains (Losses) on Extinguishment of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(2,699,022)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueJanuary2015Member', window );">Convertible Debenture Due January 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromConvertibleDebt', window );">Proceeds from Convertible Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,765,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleConversionPrice1', window );">Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleStockPriceTrigger', window );">Debt Instrument, Convertible, Stock Price Trigger (in Dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.75<span></span>
</td>
<td class="nump">$ 7.50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleThresholdTradingDays', window );">Debt Instrument, Convertible, Threshold Trading Days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DebtInstrumentPrepaymentNoticePeriod', window );">Debt Instrument Prepayment Notice Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">30 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DebtInstrumentPrepaymentThresholdTradingDays', window );">Debt Instrument Prepayment Threshold Trading Days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice', window );">Debt Instrument Prepayment Threshold Trading Days Ending Prior To Prepayment Notice</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,041<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight', window );">Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1', window );">Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7.50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebtFairValueDisclosures', window );">Convertible Debt, Fair Value Disclosures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,490,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Plus: fair value of derivative liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,180,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,671,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure', window );">Warrants Not Settleable in Cash, Fair Value Disclosure</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">370,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure', window );">Relative fair value of Convertible Debenture Warrant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">214,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue', window );">Convertible Debt Instrument Including Embedded Derivative Relative Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,550,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscount', window );">Debt Instrument, Unamortized Discount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,394,819)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebt', window );">Convertible Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">370,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debt Instrument, Face Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,765,000<span></span>
</td>
<td class="nump">200,000<span></span>
</td>
<td class="nump">$ 325,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DerivativeLiabilityAndWarrant', window );">Derivative Liability and Warrant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,394,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueInputsDiscountRate', window );">Fair Value Inputs, Discount Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CashFeeCompensationPlacementAgent', window );">Cash Fee Compensation Placement Agent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 41,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LegalFees', window );">Legal Fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Debt Issuance Cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">83,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Derivative Liability, Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">540,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Derivative, Gain (Loss) on Derivative, Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,131,000<span></span>
</td>
<td class="nump">475,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfDebtDiscountPremium', window );">Amortization of Debt Discount (Premium)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">233,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentIncreaseAccruedInterest', window );">Debt Instrument, Increase, Accrued Interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,000<span></span>
</td>
<td class="nump">$ 5,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal', window );">Debt Instrument Convertible Number Of Equity Instruments For Principal (in Shares) (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">330,683<span></span>
</td>
<td class="nump">86,671<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest', window );">Debt Instrument Convertible Number Of Equity Instruments For Interest (in Shares) (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,185<span></span>
</td>
<td class="nump">805<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gains (Losses) on Extinguishment of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 482,915<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueJanuary2015Member', window );">Convertible Debenture Due January 2015 [Member] | Placement Agent Warrant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure', window );">Relative fair value of Convertible Debenture Warrant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueJanuary2015Member', window );">Convertible Debenture Due January 2015 [Member] | Management [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromConvertibleDebt', window );">Proceeds from Convertible Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueJanuary2015Member', window );">Convertible Debenture Due January 2015 [Member] | Convertible Debentures Embedded Conversion Feature [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Plus: fair value of derivative liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,180,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure', window );">Warrants Not Settleable in Cash, Fair Value Disclosure</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">370,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure', window );">Relative fair value of Convertible Debenture Warrant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 214,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debt Instrument, Face Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,240,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromConvertibleDebt', window );">Proceeds from Convertible Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleConversionPrice1', window );">Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 7.75<span></span>
</td>
<td class="nump">$ 9.46<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DebtInstrumentPrepaymentNoticePeriod', window );">Debt Instrument Prepayment Notice Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">30 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | shares</a></td>
<td class="nump">369,979<span></span>
</td>
<td class="nump">369,979<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight', window );">Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebtFairValueDisclosures', window );">Convertible Debt, Fair Value Disclosures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,280,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Plus: fair value of derivative liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,570,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure', window );">Warrants Not Settleable in Cash, Fair Value Disclosure</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">740,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure', window );">Relative fair value of Convertible Debenture Warrant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">515,936<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue', window );">Convertible Debt Instrument Including Embedded Derivative Relative Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,984,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscount', window );">Debt Instrument, Unamortized Discount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (2,085,936)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebt', window );">Convertible Debt</a></td>
<td class="nump">$ 3,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,414,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueInputsDiscountRate', window );">Fair Value Inputs, Discount Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Derivative Liability, Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,032,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Derivative, Gain (Loss) on Derivative, Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">538,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfDebtDiscountPremium', window );">Amortization of Debt Discount (Premium)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">401,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentIncreaseAccruedInterest', window );">Debt Instrument, Increase, Accrued Interest</a></td>
<td class="nump">$ 173,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DebtConversionConvertedInstrumentAdditionalSharesIssued', window );">Debt Conversion Converted Instrument Additional Shares Issued (in Shares) (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.55<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtConversionConvertedInstrumentSharesIssued1', window );">Debt Conversion, Converted Instrument, Shares Issued (in Shares) | shares</a></td>
<td class="nump">739,958<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesConverted1', window );">Conversion of Stock, Shares Converted (in Shares) | shares</a></td>
<td class="nump">639,158<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Conversion of Stock, Shares Issued (in Shares) | shares</a></td>
<td class="nump">3,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_RetirementAndCancellationOfShares', window );">Retirement and Cancellation Of Shares (in Shares) (in Shares) | shares</a></td>
<td class="nump">639,158<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_GainLossOnSharesConversion', window );">(Loss) on conversion/exchange</a></td>
<td class="nump">$ 2,216,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_EquityInstrumentConvertibleConversionPrice', window );">Equity Instrument, Convertible, Conversion Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 4.73<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFairValueOfDerivativeNet', window );">Derivative, Fair Value, Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member] | Convertible Debentures Embedded Conversion Feature [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleConversionPrice1', window );">Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.73<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscount', window );">Debt Instrument, Unamortized Discount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,085,936)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureWithoutConversionFeaturesMember', window );">Convertible Debenture Without Conversion Features [Member] | Convertible Debenture Due January 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebtFairValueDisclosures', window );">Convertible Debt, Fair Value Disclosures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,670,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureWithoutConversionFeaturesMember', window );">Convertible Debenture Without Conversion Features [Member] | Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebtFairValueDisclosures', window );">Convertible Debt, Fair Value Disclosures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,710,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Plus: fair value of derivative liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,570,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure', window );">Relative fair value of Convertible Debenture Warrant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 740,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightAxis=itus_ConvertibleDebentureWarrantMember', window );">Convertible Debenture Warrant [Member] | Convertible Debenture Due January 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">235,310<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure', window );">Relative fair value of Convertible Debenture Warrant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 214,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CONVERTIBLEDEBENTURESDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CONVERTIBLEDEBENTURESDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CashFeeCompensationPlacementAgent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash fee compensation provided to the placement agent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CashFeeCompensationPlacementAgent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Convertible Debt Instrument Including Embedded Derivative Relative Fair Value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertibleDebtInstrumentIncludingEmbeddedDerivativeRelativeFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DebtConversionConvertedInstrumentAdditionalSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Debt Conversion Converted Instrument Additional Shares Issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DebtConversionConvertedInstrumentAdditionalSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity instruments that the holder of the debt instrument would receive if the debt was converted to interest amount of equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity instruments that the holder of the debt instrument would receive if the debt was converted to principal amount of equity .</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DebtInstrumentConvertibleNumberOfEquityInstrumentsForPrincipal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DebtInstrumentPrepaymentNoticePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Debt instrument prepayment notice period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DebtInstrumentPrepaymentNoticePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DebtInstrumentPrepaymentThresholdTradingDays">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Threshold number of specified trading days that common stock price must attain the threshold prepayment price within a specified consecutive trading period to trigger prepayment feature.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DebtInstrumentPrepaymentThresholdTradingDays</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The specified number of days prior to which the threshold number of trading days for prepayment stock price trigger must end.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DebtInstrumentPrepaymentThresholdTradingDaysEndingPriorToPrepaymentNotice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DerivativeLiabilityAndWarrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DerivativeLiabilityAndWarrant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_EquityInstrumentConvertibleConversionPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Conversion price of equity into preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_EquityInstrumentConvertibleConversionPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_GainLossOnSharesConversion">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain or losses on conversion of securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_GainLossOnSharesConversion</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_RetirementAndCancellationOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cancellation of shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_RetirementAndCancellationOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Warrants not Settleled in Cash Relative Fair Value Disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfDebtDiscountPremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfDebtDiscountPremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price per share or per unit of warrants or rights outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of securities into which each warrant or right may be converted. For example, but not limited to, each warrant may be converted into two shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesConverted1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesConverted1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConvertibleDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying amount of debt identified as being convertible into another form of financial instrument (typically the entity's common stock) as of the balance sheet date, which originally required full repayment more than twelve months after issuance or greater than the normal operating cycle of the company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConvertibleDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConvertibleDebtFairValueDisclosures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of borrowing which can be exchanged for a specified number of another security at the option of the issuer or the holder, for example, but not limited to, the entity's common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Convertible Security<br> -URI http://asc.fasb.org/extlink&amp;oid=6509036<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConvertibleDebtFairValueDisclosures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtConversionConvertedInstrumentSharesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtConversionConvertedInstrumentSharesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentConvertibleConversionPrice1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The price per share of the conversion feature embedded in the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6928298&amp;loc=SL6031898-161870<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleConversionPrice1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentConvertibleStockPriceTrigger">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of the entity's common stock which would be required to be attained for the conversion feature embedded in the debt instrument to become effective.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleStockPriceTrigger</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentConvertibleThresholdTradingDays">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Threshold number of specified trading days that common stock price to conversion price of convertible debt instruments must exceed threshold percentage within a specified consecutive trading period to trigger conversion feature.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleThresholdTradingDays</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentIncreaseAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase for accrued, but unpaid interest on the debt instrument for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentIncreaseAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnamortizedDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeFairValueOfDerivativeNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of the assets less the liabilities of a derivative or group of derivatives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeFairValueOfDerivativeNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeGainLossOnDerivativeNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the fair value of derivatives recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (a),(c),(d),(e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeGainLossOnDerivativeNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueInputsDiscountRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value.  For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueInputsDiscountRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LegalFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LegalFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromConvertibleDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromConvertibleDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of warrants not settleable in cash classified as equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WarrantsNotSettleableInCashFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueJanuary2015Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueJanuary2015Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_PlacementAgentWarrantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_PlacementAgentWarrantMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ManagementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ManagementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtConversionByUniqueDescriptionAxis=itus_ConvertibleDebenturesEmbeddedConversionFeatureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtConversionByUniqueDescriptionAxis=itus_ConvertibleDebenturesEmbeddedConversionFeatureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueNovember2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueNovember2016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureWithoutConversionFeaturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureWithoutConversionFeaturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightAxis=itus_ConvertibleDebentureWarrantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightAxis=itus_ConvertibleDebentureWarrantMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R34.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6833152736">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Convertible Debenture - USD ($)<br></strong></div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
<th class="th"><div>Oct. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsConvertibleDebentureLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Convertible Debenture [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Proceeds attributable to the Convertible Debenture due January 2015</a></td>
<td class="nump">$ 370,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueJanuary2015Member', window );">Convertible Debenture Due January 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsConvertibleDebentureLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Convertible Debenture [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face value of Convertible Debenture due January 2015</a></td>
<td class="nump">1,765,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 200,000<span></span>
</td>
<td class="nump">$ 325,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Fair value of embedded conversion feature</a></td>
<td class="nump">1,180,000<span></span>
</td>
<td class="nump">$ 1,671,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure', window );">Relative fair value of Convertible Debenture Warrant</a></td>
<td class="nump">214,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscount', window );">Discount</a></td>
<td class="num">$ (1,394,819)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CONVERTIBLEDEBENTURESDetailsConvertibleDebentureLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CONVERTIBLEDEBENTURESDetailsConvertibleDebentureLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Warrants not Settleled in Cash Relative Fair Value Disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnamortizedDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueJanuary2015Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=itus_ConvertibleDebentureDueJanuary2015Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>48
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6837812528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Fair value of the embedded conversion feature of the Convertible Debenture - Convertible Debentures Embedded Conversion Feature [Member] - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 25, 2013</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems', window );"><strong>Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Stock price on valuation date (in Dollars per share)</a></td>
<td class="nump">$ 5.25<span></span>
</td>
<td class="nump">$ 4.875<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleConversionPrice1', window );">Conversion price (in Dollars per share)</a></td>
<td class="nump">$ 3.75<span></span>
</td>
<td class="nump">$ 3.75<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_StockPremiumForLiquidity', window );">Stock premium for liquidity</a></td>
<td class="nump">57.00%<span></span>
</td>
<td class="nump">42.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
<td class="text">2 years<span></span>
</td>
<td class="text">1 year 3 months<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">110.00%<span></span>
</td>
<td class="nump">115.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Weighted average risk-free interest rate</a></td>
<td class="nump">0.30%<span></span>
</td>
<td class="nump">0.30%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_Trials', window );">Trials (in Shares)</a></td>
<td class="nump">100,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Aggregate fair value (in Dollars)</a></td>
<td class="nump">$ 1,180,000<span></span>
</td>
<td class="nump">$ 540,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_StockPremiumForLiquidity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Stock premium for liquidity rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_StockPremiumForLiquidity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_Trials">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trials.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_Trials</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentConvertibleConversionPrice1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The price per share of the conversion feature embedded in the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6928298&amp;loc=SL6031898-161870<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleConversionPrice1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExpectedTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-free interest rate assumption used in valuing an instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=itus_ConvertibleDebenturesEmbeddedConversionFeatureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=itus_ConvertibleDebenturesEmbeddedConversionFeatureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6763527168">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Fair value of the Convertible - Convertible Debenture Warrant [Member]<br></strong></div></th>
<th class="th">
<div>Jan. 25, 2013 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems', window );"><strong>Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Stock price on valuation date (in Dollars per share)</a></td>
<td class="nump">$ 5.25<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExercisePrice', window );">Exercise price (in Dollars per share)</a></td>
<td class="nump">$ 7.50<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_StockPremiumForLiquidity', window );">Stock premium for liquidity</a></td>
<td class="nump">38.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantExerciseTriggerPrice', window );">Warrant exercise trigger price</a></td>
<td class="nump">41.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">95.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Weighted average risk-free interest rate</a></td>
<td class="nump">0.40%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightOutstanding', window );">Number of warrants (in Shares) | shares</a></td>
<td class="nump">5,882,745<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure', window );">Aggregate fair value (in Dollars) | $</a></td>
<td class="nump">$ 370,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_StockPremiumForLiquidity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Stock premium for liquidity rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_StockPremiumForLiquidity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_WarrantExerciseTriggerPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Warrant exercise trigger price percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_WarrantExerciseTriggerPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of warrants or rights outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Agreed upon price for the exchange of the underlying asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExpectedTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-free interest rate assumption used in valuing an instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of warrants not settleable in cash classified as equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WarrantsNotSettleableInCashFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=itus_ConvertibleDebentureWarrantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=itus_ConvertibleDebentureWarrantMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6765824624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Allocated issuance costs</a></td>
<td class="nump">$ 19,156<span></span>
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<td class="nump">$ 83,760<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountingTreatmentAxis=itus_ExpensedAsIncurredMember', window );">Expensed As Incurred [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Allocated issuance costs</a></td>
<td class="nump">8,593<span></span>
</td>
<td class="nump">55,999<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountingTreatmentAxis=itus_ChargedToAdditionalPaidInCapitalMember', window );">Charged To Additional Paid In Capital [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Allocated issuance costs</a></td>
<td class="nump">2,824<span></span>
</td>
<td class="nump">10,194<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountingTreatmentAxis=itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember', window );">Recorded As Deferred Issuance Costs And Amortized Under The Interest Method Over The Term Of The 8 Convertible Debenture [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Allocated issuance costs</a></td>
<td class="nump">$ 7,739<span></span>
</td>
<td class="nump">$ 17,567<span></span>
</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td>debit</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_AccountingTreatmentAxis=itus_ExpensedAsIncurredMember">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_AccountingTreatmentAxis=itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember</td>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6834830896">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Intrinsic Value Computation - Convertible Debenture [Member]<br></strong></div></th>
<th class="th">
<div>Apr. 30, 2014 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Intrinsic Value Computation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Stock price used for valuation | $ / shares</a></td>
<td class="nump">$ 8.50<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtConversionConvertedInstrumentType', window );"></a></td>
<td class="text">266.68 shares issued per $1,000 face value<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment | $</a></td>
<td class="nump">$ 1,456,797<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtConversionConvertedInstrumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of the financial instrument that the original debt is being converted into (for example, new debt, common stock, preferred stock, etc.) in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtConversionConvertedInstrumentType</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
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<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
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<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
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<td>us-gaap_</td>
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<td>num:perShareItemType</td>
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<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6737567088">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Intrinsic Value Computation (Parentheticals) - Convertible Debenture [Member]<br></strong></div></th>
<th class="th">
<div>Apr. 30, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationParentheticalsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Intrinsic Value Computation (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtConversionConvertedInstrumentSharesIssued1', window );">Issuance of shares | shares</a></td>
<td class="nump">266.68<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Aggregate intrinsic value | $</a></td>
<td class="nump">$ 1,150,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationParentheticalsLineItems</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtConversionConvertedInstrumentSharesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtConversionConvertedInstrumentSharesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 16<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<td></td>
</tr>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6842255840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - The loss on extinguishment of debt - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtLineItems', window );"><strong>Extinguishment of Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Fair value of common stock issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,229,641<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on extinguishment of debt</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(2,699,022)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueJanuary2015Member', window );">Convertible Debenture Due January 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtLineItems', window );"><strong>Extinguishment of Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face value of debt converted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,440,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertibleDebtDiscount', window );">Less: discount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(658,232)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Plus: fair value of derivative liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,670,704<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Net book value of debt converted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,452,472<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Fair value of common stock issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,935,387<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on extinguishment of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (482,915)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertibleDebtDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of convertible debt discount that was originally recognized at the issuance of the instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertibleDebtDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 16<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ExtinguishmentOfDebtLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ExtinguishmentOfDebtLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of stock issued in noncash financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueJanuary2015Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueJanuary2015Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>54
<FILENAME>R41.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6842222768">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Convertible Debenture<br></strong></div></th>
<th class="th">
<div>Oct. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsConvertibleDebentureLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Convertible Debenture [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConvertibleDebt', window );">Proceeds attributable to the Convertible Debenture due November 2016</a></td>
<td class="nump">$ 1,414,064<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsConvertibleDebentureLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Convertible Debenture [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face value of Convertible Debenture due November 2016</a></td>
<td class="nump">3,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Fair value of embedded conversion feature</a></td>
<td class="nump">1,570,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure', window );">Relative fair value of Convertible Debenture Warrant</a></td>
<td class="nump">515,936<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscount', window );">Discount</a></td>
<td class="nump">$ 2,085,936<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CONVERTIBLEDEBENTURESDetailsConvertibleDebentureLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CONVERTIBLEDEBENTURESDetailsConvertibleDebentureLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Warrants not Settleled in Cash Relative Fair Value Disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_WarrantsNotSettleableInCashRelativeFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConvertibleDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying amount of debt identified as being convertible into another form of financial instrument (typically the entity's common stock) as of the balance sheet date, which originally required full repayment more than twelve months after issuance or greater than the normal operating cycle of the company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConvertibleDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnamortizedDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6837763344">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Fair value of the embedded conversion feature of the Convertible Debenture - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Nov. 11, 2013</div></th>
<th class="th"><div>Jan. 25, 2013</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=itus_ConvertibleDebenturesEmbeddedConversionFeatureMember', window );">Convertible Debentures Embedded Conversion Feature [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems', window );"><strong>Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Stock price on valuation date (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.25<span></span>
</td>
<td class="nump">$ 4.875<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleConversionPrice1', window );">Conversion price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.75<span></span>
</td>
<td class="nump">$ 3.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">1 year 3 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">110.00%<span></span>
</td>
<td class="nump">115.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Weighted average risk-free interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.30%<span></span>
</td>
<td class="nump">0.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_Trials', window );">Trials (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Aggregate fair value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,180,000<span></span>
</td>
<td class="nump">$ 540,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems', window );"><strong>Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Aggregate fair value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,570,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member] | Convertible Debentures Embedded Conversion Feature [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems', window );"><strong>Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Stock price on valuation date (in Dollars per share)</a></td>
<td class="nump">$ 5.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleConversionPrice1', window );">Conversion price (in Dollars per share)</a></td>
<td class="nump">$ 4.725<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DiscountForLackOfMarketability', window );">Discount for lack of marketability</a></td>
<td class="nump">35.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">102.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Weighted average risk-free interest rate</a></td>
<td class="nump">0.62%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_Trials', window );">Trials (in Shares)</a></td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Aggregate fair value (in Dollars)</a></td>
<td class="nump">$ 1,570,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DiscountForLackOfMarketability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discount for lack of marketability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DiscountForLackOfMarketability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_Trials">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trials.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_Trials</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentConvertibleConversionPrice1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The price per share of the conversion feature embedded in the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6928298&amp;loc=SL6031898-161870<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleConversionPrice1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExpectedTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-free interest rate assumption used in valuing an instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=itus_ConvertibleDebenturesEmbeddedConversionFeatureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=itus_ConvertibleDebenturesEmbeddedConversionFeatureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752572128">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Fair value of the Convertible Debenture Warrant - 8% Convertible Debenture Warrant [Member]<br></strong></div></th>
<th class="th">
<div>Nov. 11, 2013 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems', window );"><strong>Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Stock price on valuation date (in Dollars per share)</a></td>
<td class="nump">$ 5.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExercisePrice', window );">Exercise price (in Dollars per share)</a></td>
<td class="nump">$ 9.45<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DiscountForLackOfMarketability', window );">Discount for lack of marketability</a></td>
<td class="nump">22.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">102.80%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Weighted average risk-free interest rate</a></td>
<td class="nump">0.60%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightOutstanding', window );">Number of warrants (in Shares) | shares</a></td>
<td class="nump">369,979<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure', window );">Aggregate fair value (in Dollars) | $</a></td>
<td class="nump">$ 740,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DiscountForLackOfMarketability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discount for lack of marketability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DiscountForLackOfMarketability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssumptionForFairValueAsOfBalanceSheetDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of warrants or rights outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Agreed upon price for the exchange of the underlying asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExpectedTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-free interest rate assumption used in valuing an instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of warrants not settleable in cash classified as equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WarrantsNotSettleableInCashFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueEstimateNotPracticableDisclosureItemsAxis=itus_A8ConvertibleDebentureWarrantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueEstimateNotPracticableDisclosureItemsAxis=itus_A8ConvertibleDebentureWarrantMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6842361424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Allocated issuance costs</a></td>
<td class="nump">$ 19,156<span></span>
</td>
<td class="nump">$ 83,760<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountingTreatmentAxis=itus_ExpensedAsIncurredMember', window );">Expensed As Incurred [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Allocated issuance costs</a></td>
<td class="nump">8,593<span></span>
</td>
<td class="nump">55,999<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountingTreatmentAxis=itus_ChargedToAdditionalPaidInCapitalMember', window );">Charged To Additional Paid In Capital [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Allocated issuance costs</a></td>
<td class="nump">2,824<span></span>
</td>
<td class="nump">10,194<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountingTreatmentAxis=itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember', window );">Recorded As Deferred Issuance Costs And Amortized Under The Interest Method Over The Term Of The 8 Convertible Debenture [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Issuance Cost Allocation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Allocated issuance costs</a></td>
<td class="nump">$ 7,739<span></span>
</td>
<td class="nump">$ 17,567<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CONVERTIBLEDEBENTURESDetailsIssuanceCostAllocationLineItems</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtIssuanceCosts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">itus_AccountingTreatmentAxis=itus_ChargedToAdditionalPaidInCapitalMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_AccountingTreatmentAxis=itus_RecordedAsDeferredIssuanceCostsAndAmortizedUnderTheInterestMethodOverTheTermOfThe8ConvertibleDebentureMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6835221360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - The loss on extinguishment of debt - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SecuritiesExtinguishedAbstract', window );"><strong>Securities extinguished:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Less: deferred issuance costs</a></td>
<td class="nump">$ 19,156<span></span>
</td>
<td class="nump">$ 83,760<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SecuritiesExtinguishedAbstract', window );"><strong>Securities extinguished:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face value of convertible debenture converted</a></td>
<td class="nump">3,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Plus: fair value of derivative liability</a></td>
<td class="nump">1,570,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange', window );">Net book value of converted debenture, accrued interest, derivative liability and warrant exchanged</a></td>
<td class="nump">3,818,534<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SecuritiesIssuedInConversionExchangeAbstract', window );"><strong>Securities issued in conversion/exchange:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SecuritiesIssuedInValue', window );">Subtotal of securities issued in conversion/exchange</a></td>
<td class="nump">6,034,641<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_GainLossOnSharesConversion', window );">(Loss) on conversion/exchange</a></td>
<td class="num">(2,216,107)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member] | Convertible Debenture [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SecuritiesIssuedInConversionExchangeAbstract', window );"><strong>Securities issued in conversion/exchange:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_StockIssuedFairValue', window );">Fair value of 100,800 shares of common stock issued, net (739,958 shares of Conversion Common Stock issued, less 639,158 shares exchanged for 3,500 shares of Series A Convertible Preferred Stock)</a></td>
<td class="nump">617,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FairValueConvertiblePreferredStock', window );">Fair value of 3,500 shares of Series A Convertible Preferred Stock (based on a stated value per share of $1,000 and a conversion rate of $4.73)</a></td>
<td class="nump">4,532,241<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_WarrantIssuedFairValue', window );">Fair value of warrant issued September 9, 2014</a></td>
<td class="nump">885,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAxis=us-gaap_LongTermDebtMember', window );">Long-term Debt [Member] | Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SecuritiesExtinguishedAbstract', window );"><strong>Securities extinguished:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face value of convertible debenture converted</a></td>
<td class="nump">3,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertibleDebtDiscount', window );">Less: debt discount</a></td>
<td class="num">(1,684,801)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtIssuanceCosts', window );">Less: deferred issuance costs</a></td>
<td class="num">(7,739)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentIncreaseAccruedInterest', window );">Plus: accrued interest</a></td>
<td class="nump">173,833<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Plus: fair value of derivative liability</a></td>
<td class="nump">1,032,241<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure', window );">Plus: fair value of warrant exchanged in connection with the conversion</a></td>
<td class="nump">$ 805,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertibleDebtDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of convertible debt discount that was originally recognized at the issuance of the instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertibleDebtDiscount</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_FairValueConvertiblePreferredStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of convertible Preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_FairValueConvertiblePreferredStock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_GainLossOnSharesConversion">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain or losses on conversion of securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_GainLossOnSharesConversion</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Book value of converted debenture, accrued interest and derivative liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_NetBookValueOfConvertedDebentureAccruedInterestDerivativeLiabilityAndWarrantExchange</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_SecuritiesExtinguishedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SecuritiesExtinguishedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_SecuritiesIssuedInConversionExchangeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SecuritiesIssuedInConversionExchangeAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of total securities issued in conversion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SecuritiesIssuedInValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_StockIssuedFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of stock issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_StockIssuedFairValue</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_WarrantIssuedFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of warrant issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_WarrantIssuedFairValue</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentIncreaseAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase for accrued, but unpaid interest on the debt instrument for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentIncreaseAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WarrantsNotSettleableInCashFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of warrants not settleable in cash classified as equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WarrantsNotSettleableInCashFairValueDisclosure</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtConversionByUniqueDescriptionAxis=itus_ConvertibleDebentureMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ExtinguishmentOfDebtAxis=us-gaap_LongTermDebtMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6766150144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - The loss on extinguishment of debt (Parentheticals) - $ / shares<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtLineItems', window );"><strong>Extinguishment of Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock issued, net</a></td>
<td class="nump">8,724,878<span></span>
</td>
<td class="nump">8,788,176<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember', window );">Series A Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtLineItems', window );"><strong>Extinguishment of Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred Stock</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">140<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtLineItems', window );"><strong>Extinguishment of Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock issued, net</a></td>
<td class="nump">100,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockNewIssuance', window );">Common Stock issued on Conversion</a></td>
<td class="text">739,958<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SecuritiesIssuedInConversionExchangeShares', window );">Less: Shares exchnaged for Series A Convertible Preferred Stock</a></td>
<td class="nump">639,158<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member', window );">Convertible Debenture Due November 2016 [Member] | Series A Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtLineItems', window );"><strong>Extinguishment of Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred Stock</a></td>
<td class="nump">3,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue', window );">Preferred Stock, Stated value (in Dollars per share)</a></td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertiblePreferredStockInitialConversionPrice', window );">Preferred Stock, Conversion Price (in Dollars per share)</a></td>
<td class="nump">$ 4.73<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertiblePreferredStockInitialConversionPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Conversion price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertiblePreferredStockInitialConversionPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Initial stated value per share of convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_SecuritiesIssuedInConversionExchangeShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued in exchange of conversion of a convertible instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SecuritiesIssuedInConversionExchangeShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockNewIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A description of the new financial instrument issued in a noncash (or part noncash) conversion of stock. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockNewIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ExtinguishmentOfDebtLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ExtinguishmentOfDebtLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_ConvertibleDebentureDueNovember2016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6752819200">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Intrinsic Value Computation - 8% Convertible Debenture [Member]<br></strong></div></th>
<th class="th">
<div>Sep. 09, 2013 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Intrinsic Value Computation [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Stock price used for valuation (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 6.125<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtConversionConvertedInstrumentType', window );"></a></td>
<td class="text">211.4 shares issued per $1,000 of face value<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability', window );">Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion</a></td>
<td class="nump">$ 4,532,241<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Less the face value of the convertible debenture</a></td>
<td class="num">(3,500,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_DerivativeConversionFeatureIntrinsicValue', window );">Intrinsic value of the derivative conversion feature</a></td>
<td class="nump">$ 1,032,241<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DerivativeConversionFeatureIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Intrinsic Value of converted derivatives feature.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DerivativeConversionFeatureIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtConversionConvertedInstrumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of the financial instrument that the original debt is being converted into (for example, new debt, common stock, preferred stock, etc.) in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtConversionConvertedInstrumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of the embedded derivative or group of embedded derivatives classified as a liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=itus_A8ConvertibleDebentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_A8ConvertibleDebentureMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6758433840">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONVERTIBLE DEBENTURES (Details) - Intrinsic Value Computation (Parentheticals) - 8% Convertible Debenture [Member]<br></strong></div></th>
<th class="th">
<div>Sep. 09, 2013 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationParentheticalsLineItems', window );"><strong>CONVERTIBLE DEBENTURES (Details) - Intrinsic Value Computation (Parentheticals) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtConversionConvertedInstrumentSharesIssued1', window );">Issuance of shares | shares</a></td>
<td class="nump">211.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Aggregate intrinsic value | $</a></td>
<td class="nump">$ 3,500,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CONVERTIBLEDEBENTURESDetailsIntrinsicValueComputationParentheticalsLineItems</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtConversionConvertedInstrumentSharesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 16<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=itus_A8ConvertibleDebentureMember</td>
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<td></td>
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</table></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6857969312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="4">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1">37 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Feb. 15, 2015</div></th>
<th class="th"><div>Feb. 05, 2015</div></th>
<th class="th"><div>Jan. 02, 2015</div></th>
<th class="th"><div>Nov. 30, 2014</div></th>
<th class="th"><div>Sep. 09, 2014</div></th>
<th class="th"><div>Jul. 15, 2014</div></th>
<th class="th"><div>Feb. 15, 2014</div></th>
<th class="th"><div>Jan. 02, 2014</div></th>
<th class="th"><div>Nov. 30, 2013</div></th>
<th class="th"><div>Nov. 08, 2013</div></th>
<th class="th"><div>Sep. 30, 2012</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Mar. 31, 2013</div></th>
<th class="th"><div>Feb. 28, 2013</div></th>
<th class="th"><div>Nov. 30, 2012</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
<th class="th"><div>Oct. 31, 2013</div></th>
<th class="th"><div>Nov. 30, 2015</div></th>
<th class="th"><div>Aug. 29, 2012</div></th>
<th class="th"><div>Jul. 06, 2011</div></th>
<th class="th"><div>Jul. 14, 2010</div></th>
<th class="th"><div>Apr. 21, 2003</div></th>
<th class="th"><div>May. 31, 1986</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from Issuance of Common Stock (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,673,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,673,135<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember', window );">Series A Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock, Par or Stated Value Per Share (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember', window );">2010 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">988,995<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherShareIncreaseDecrease', window );">Share-based Compensation Arrangement by Share-based Payment Award, Other Share Increase (Decrease)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,569,399<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,225,399<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,956,999<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,400<span></span>
</td>
<td class="nump">612,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.91<span></span>
</td>
<td class="nump">$ 5.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">406,149<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 342,572<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">526,271<span></span>
</td>
<td class="nump">728,560<span></span>
</td>
<td class="nump">119,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.33<span></span>
</td>
<td class="nump">$ 5.75<span></span>
</td>
<td class="nump">$ 6.13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember', window );">2010 Share Plan [Member] | Employee Stock Option [Member] | Consultant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices', window );">Stock Issued During Period, Shares, Issued for Services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,600<span></span>
</td>
<td class="nump">12,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConsultationFeesRelatedToOptions', window );">Consultation Fees Related To Options (in Dollars) (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 46,000<span></span>
</td>
<td class="nump">$ 85,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_P2003SharePlanMember', window );">2003 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">493,991<span></span>
</td>
<td class="nump">625,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18.00<span></span>
</td>
<td class="nump">$ 18.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_A2010SharePlanAmendmendMember', window );">2010 Share Plan Amendmend [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,200,000<span></span>
</td>
<td class="nump">1,080,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_A2010SharePlanAmendmendMember', window );">2010 Share Plan Amendmend [Member] | Employee Stock Option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_A2010SharePlanAmendmendMember', window );">2010 Share Plan Amendmend [Member] | Employee Stock Option [Member] | Non Employee Director [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_A2010SharePlanAmendmendMember', window );">2010 Share Plan Amendmend [Member] | Employee Stock Option [Member] | Board of Directors Chairman [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,660,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">120,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Employee Stock Option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,832,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.72<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Employee Stock Option [Member] | Directors Additional Compensation Service [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,334<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Employee Stock Option [Member] | Board of Directors Chairman [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares</a></td>
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</td>
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<td class="nump">13,334<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CommonStockAntidilutionThresholdPrice', window );">Common Stock, Anti-dilution Threshold Price (in Dollars per share) (in Dollars per share)</a></td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Employee Stock Option [Member] | President and Chief Executive Officer [Member]</a></td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Employee Stock Option [Member] | Senior Vice President of Engineering [Member]</a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">320,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Employee Stock Option [Member] | Strategic Advisor [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">640,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Employee Stock Option [Member] | Outside Directors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">120,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">120,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 92,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.72<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Employee Stock Option [Member] | Three Outside Directors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Nonqualified Stock Option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.56<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 34,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.72<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Nonqualified Stock Option [Member] | Chairmans Compensation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Nonqualified Stock Option [Member] | Directors Additional Compensation Service [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Re-Priced Options [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,184,125<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.575<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based Compensation (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 297,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember', window );">Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from Issuance of Common Stock (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Stock Issued During Period, Shares, New Issues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">640,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Share Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices', window );">Stock Issued During Period, Shares, Issued for Services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,600<span></span>
</td>
<td class="nump">12,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Stock Issued During Period, Shares, Conversion of Convertible Securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">330,683<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_WarrantMember', window );">Warrant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">320,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1', window );">Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ClassOfWarrantOrRightExpirationPeriod', window );">Class of Warrant or Right, Expiration Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CancellationOfWarrantsExercisePrice', window );">Cancellation of Warrants, Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember', window );">Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred Stock, Shares Authorized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,860<span></span>
</td>
<td class="nump">19,860<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">200,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock, Par or Stated Value Per Share (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_ConvertiblePreferredStockMember', window );">Convertible Preferred Stock [Member] | Series A Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CommonStockAntidilutionThresholdPrice', window );">Common Stock, Anti-dilution Threshold Price (in Dollars per share) (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.55<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred Stock, Shares Authorized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock, Par or Stated Value Per Share (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Stock Issued During Period, Shares, Conversion of Convertible Securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue', window );">Convertible Preferred Stock, Shares Converted, Initial Stated Value (in Dollars per share) (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertiblePreferredStockInitialConversionPrice', window );">Convertible Preferred Stock, Initial Conversion Price (in Dollars per share) (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4.73<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_CommonStockSharesOutstandingMaximumOwnershipPercentage', window );">Common Stock, Shares Outstanding, Maximum Ownership Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod', window );">Convertible Preferred Stock, Mandatory Conversion, Measurment Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">the average of the high and low trading prices of the Company&#8217;s common stock for any 10 out of 20 consecutive trading days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage', window );">Convertible Preferred Stock,Mandatory Conversion, Threshold Trading Volume Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConvertiblePreferredStockRedemptionNoticePeriod', window );">Convertible Preferred Stock Redemption, Notice Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">60 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConertiblePreferredStockObserverDesignationNoticePeriod', window );">Conertible Preferred Stock, Observer Designation, Notice Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CancellationOfWarrantsExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price per share or per unit of warrants cancellation during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CancellationOfWarrantsExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ClassOfWarrantOrRightExpirationPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiration period of warrants or rights outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ClassOfWarrantOrRightExpirationPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CommonStockAntidilutionThresholdPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The price per share, below which certain anti-dilution protection provision will be triggered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CommonStockAntidilutionThresholdPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_CommonStockSharesOutstandingMaximumOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum percentage of common stock outstanding an individual can hold.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CommonStockSharesOutstandingMaximumOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConertiblePreferredStockObserverDesignationNoticePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Notice period the holder is required to deliver before it can designate an observer to observe meetings of the company's board, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConertiblePreferredStockObserverDesignationNoticePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConsultationFeesRelatedToOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consultation fees related to options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConsultationFeesRelatedToOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertiblePreferredStockInitialConversionPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Conversion price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertiblePreferredStockInitialConversionPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The period considered for the mandatory conversion of the convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertiblePreferredStockMandatoryConversionMeasurmentPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Threshold trading volume of the common stock during the Measurement Period for mandatory conversion of the convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertiblePreferredStockMandatoryConversionThresholdTradingVolumePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertiblePreferredStockRedemptionNoticePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Notice period the entity is required to deliver before it can redeem Convertible Preferred Stock, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertiblePreferredStockRedemptionNoticePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Initial stated value per share of convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ConvertiblePreferredStockSharesConvertedInitialStatedValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_SHAREHOLDERSEQUITYDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SHAREHOLDERSEQUITYDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price per share or per unit of warrants or rights outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherShareIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other than shares newly issued, the number of additional shares issued (for example, a stock split) or canceled (for example, to correct a share issuance), during the period under the plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherShareIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period from grant date that an equity-based award expires, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options vested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-30)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued in lieu of cash for services contributed to the entity. Number of shares includes, but is not limited to, shares issued for services contributed by vendors and founders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesIssuedForServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_P2010SharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_ConsultantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_ConsultantMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_P2003SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_P2003SharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_A2010SharePlanAmendmendMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_A2010SharePlanAmendmendMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_NonEmployeeDirectorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_NonEmployeeDirectorMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_BoardOfDirectorsChairmanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_BoardOfDirectorsChairmanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_DirectorsAdditionalCompensationServiceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_DirectorsAdditionalCompensationServiceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_PresidentAndChiefExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_PresidentAndChiefExecutiveOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_SeniorVicePresidentOfEngineeringMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_SeniorVicePresidentOfEngineeringMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_StrategicAdvisorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_StrategicAdvisorMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_OutsideDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_OutsideDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_ThreeOutsideDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_ThreeOutsideDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=itus_NonqualifiedStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=itus_NonqualifiedStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_ChairmansCompensationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_ChairmansCompensationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=itus_RePricedOptionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=itus_RePricedOptionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_WarrantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_WarrantMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_ConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_ConvertiblePreferredStockMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6766091584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY (Details) - Information regarding the 2003 and 2010 Share Plan - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_P2003SharePlanMember', window );">2003 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsInformationregardingthe2003and2010SharePlanLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) - Information regarding the 2003 and 2010 Share Plan [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options Outstanding, Shares</a></td>
<td class="nump">493,991<span></span>
</td>
<td class="nump">625,554<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 18.00<span></span>
</td>
<td class="nump">$ 18.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Options Exercised, Shares</a></td>
<td class="num">(4,000)<span></span>
</td>
<td class="num">(17,400)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Options Exercised, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 2.58<span></span>
</td>
<td class="nump">$ 3.63<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Options Forfeited, Shares</a></td>
<td class="num">(123,771)<span></span>
</td>
<td class="num">(114,163)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Options Forfeited, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 14.71<span></span>
</td>
<td class="nump">$ 19.75<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber', window );">Options Outstanding and Exercisable at October 31, 2015</a></td>
<td class="nump">366,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice', window );">Options Outstanding and Exercisable at October 31, 2015</a></td>
<td class="nump">$ 17.86<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue', window );">Options Outstanding and Exercisable at October 31, 2015</a></td>
<td class="nump">$ 61,665<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options Outstanding, Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">493,991<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding, Weighted Average Exercise Price Per Share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18.00<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember', window );">2010 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SHAREHOLDERSEQUITYDetailsInformationregardingthe2003and2010SharePlanLineItems', window );"><strong>SHAREHOLDERS' EQUITY (Details) - Information regarding the 2003 and 2010 Share Plan [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options Outstanding, Shares</a></td>
<td class="nump">728,560<span></span>
</td>
<td class="nump">119,360<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 5.75<span></span>
</td>
<td class="nump">$ 6.13<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Options Granted, Shares</a></td>
<td class="nump">60,400<span></span>
</td>
<td class="nump">612,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Options Granted, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 2.91<span></span>
</td>
<td class="nump">$ 5.75<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Options Exercised, Shares</a></td>
<td class="num">(13,334)<span></span>
</td>
<td class="num">(3,200)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Options Exercised, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 2.58<span></span>
</td>
<td class="nump">$ 4.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Options Forfeited, Shares</a></td>
<td class="num">(249,355)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Options Forfeited, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 6.24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options Outstanding, Shares</a></td>
<td class="nump">526,271<span></span>
</td>
<td class="nump">728,560<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 3.33<span></span>
</td>
<td class="nump">$ 5.75<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Options Outstanding, Aggregate Intrinsic Value</a></td>
<td class="nump">$ 471,292<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Options Exercisable at October 31, 2015</a></td>
<td class="nump">406,149<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Options Exercisable at October 31, 2015</a></td>
<td class="nump">$ 3.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Options Exercisable at October 31, 2015</a></td>
<td class="nump">$ 342,572<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_SHAREHOLDERSEQUITYDetailsInformationregardingthe2003and2010SharePlanLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_SHAREHOLDERSEQUITYDetailsInformationregardingthe2003and2010SharePlanLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding and exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding and exercisable, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price per share at which the shares are outstanding and exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_P2003SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_P2003SharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_P2010SharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6842375280">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY (Details) - Stock options outstanding and exercisable under 2003 share plan<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Oct. 31, 2015 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices179To925Member', window );">Range Of Exercise Prices $1.79 To $9.25 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number | shares</a></td>
<td class="nump">73,880<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding,Weighted Average Remaining Contractual Life (in years)</a></td>
<td class="text">1 year 9 months<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 2.91<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1475To1725Member', window );">Range Of Exercise Prices $14.75 To $17.25 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number | shares</a></td>
<td class="nump">59,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding,Weighted Average Remaining Contractual Life (in years)</a></td>
<td class="text">1 year 120 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 16.75<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1875To2300Member', window );">Range Of Exercise Prices $18.75 To $23.00 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number | shares</a></td>
<td class="nump">192,720<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding,Weighted Average Remaining Contractual Life (in years)</a></td>
<td class="text">1 year 51 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 21.57<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices2925Member', window );">Range Of Exercise Prices $29.25 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number | shares</a></td>
<td class="nump">40,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding,Weighted Average Remaining Contractual Life (in years)</a></td>
<td class="text">1 year 292 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 29.25<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding stock options as of the balance sheet date for all option plans in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average price as of the balance sheet date at which grantees could acquire the underlying shares with respect to all outstanding stock options which are in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term of outstanding stock options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices179To925Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1475To1725Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1875To2300Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices2925Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6737801216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY (Details) - Stock options outstanding under 2010 Share Plan - Range of Exercise Prices $2.58 To $9.25 [Member] - 2010 Share Plan [Member]<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Oct. 31, 2015 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number | shares</a></td>
<td class="nump">526,271<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding, Weighted Average Remaining Contractual Life</a></td>
<td class="text">6 years 357 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price | $ / shares</a></td>
<td class="nump">$ 3.33<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Options Exercisable, Number | shares</a></td>
<td class="nump">406,149<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2', window );">Options Exercisable, Weighted Average Remaining Contractual Life</a></td>
<td class="text">6 years 208 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Options Exercisable,Weighted Average Exercise Price | $ / shares</a></td>
<td class="nump">$ 3.40<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding exercisable stock options as of the balance sheet date in the customized range of exercise prices for which the market and performance vesting condition has been satisfied.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding stock options as of the balance sheet date for all option plans in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price as of the balance sheet date for those equity-based payment arrangements exercisable and outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1</td>
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<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term of exercisable stock options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average price as of the balance sheet date at which grantees could acquire the underlying shares with respect to all outstanding stock options which are in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term of outstanding stock options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_P2010SharePlanMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6845895024">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHAREHOLDERS' EQUITY (Details) - Stock options granted not under 2003 Share Plan and 2010 Share Plan - Range of Exercise Prices $2.58 To $5.56 [Member] - Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member]<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Oct. 31, 2015 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Shares | shares</a></td>
<td class="nump">1,780,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding, Weighted Average Remaining Contractual Life</a></td>
<td class="text">6 years 277 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price | $ / shares</a></td>
<td class="nump">$ 2.71<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding stock options as of the balance sheet date for all option plans in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average price as of the balance sheet date at which grantees could acquire the underlying shares with respect to all outstanding stock options which are in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term of outstanding stock options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6757469088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENTS AND CONTINGENCIES (Details)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Oct. 31, 2015 </div>
<div>USD ($) </div>
<div>m&#178;</div>
</th>
<th class="th">
<div>Oct. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_COMMITMENTSANDCONTINGENCIESDetailsLineItems', window );"><strong>COMMITMENTS AND CONTINGENCIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_PatentAcquisitionObligationsDiscountedPresentValue', window );">Patent Acquisition Obligations Discounted, Present Value</a></td>
<td class="nump">$ 3,688,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_InterestExpensePatentAcquisitionObligations', window );">Interest Expense, Patent Acquisition Obligations</a></td>
<td class="nump">452,000<span></span>
</td>
<td class="nump">$ 386,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue', window );">Operating Leases, Future Minimum Payments Due</a></td>
<td class="nump">44,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseAndRentalExpense', window );">Operating Leases, Rent Expense</a></td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="nump">$ 109,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis=us-gaap_PropertyAvailableForOperatingLeaseMember', window );">Property Available for Operating Lease [Member] | Los Angeles California [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_COMMITMENTSANDCONTINGENCIESDetailsLineItems', window );"><strong>COMMITMENTS AND CONTINGENCIES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfLand', window );">Area of Land (in Square Meters) | m&#178;</a></td>
<td class="nump">3,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest expense recorded during the period for the accretion of interest on patent acquisition obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discounted present value of patent acquisition obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of land held.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6766387376">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_INCOMETAXESDetailsLineItems', window );"><strong>INCOME TAXES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_OperatingLossCarryforwardAndTaxCreditCarryforwardExpirationDateRange', window );">Operating Loss Carryforward and Tax Credit Carryforward Expiration, Date Range</a></td>
<td class="text">expiring at various dates between 2016 and 2035<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(34.00%)<span></span>
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<td class="num">(34.00%)<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective Income Tax Rate Reconciliation, Percent</a></td>
<td class="nump">0.00%<span></span>
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<td class="nump">0.00%<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=itus_FederalCorporateTaxableMember', window );">Federal Corporate Taxable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_INCOMETAXESDetailsLineItems', window );"><strong>INCOME TAXES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="nump">$ 75,642,000<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxCreditCarryforwardAmount', window );">Tax Credit Carryforward, Amount</a></td>
<td class="nump">1,110,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=itus_NewYorkStateMember', window );">New York State [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_INCOMETAXESDetailsLineItems', window );"><strong>INCOME TAXES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="nump">72,505,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxCreditCarryforwardAmount', window );">Tax Credit Carryforward, Amount</a></td>
<td class="nump">11,000<span></span>
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<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=itus_CaliforniaStateMember', window );">California State [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_INCOMETAXESDetailsLineItems', window );"><strong>INCOME TAXES (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="nump">$ 2,803,000<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiration date range of operating loss carryforward and tax credit carryforward.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Carryforwards<br> -URI http://asc.fasb.org/extlink&amp;oid=6506874<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxCreditCarryforwardAmount</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=itus_FederalCorporateTaxableMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=itus_NewYorkStateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=itus_NewYorkStateMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=itus_CaliforniaStateMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6736663552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Details) - Income tax provision (benefit) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperationsAbstract', window );"><strong>Federal:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentFederalTaxExpenseBenefit', window );">Current</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit', window );">Deferred</a></td>
<td class="num">$ (487,000)<span></span>
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<td class="num">$ (1,606,000)<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperationsAbstract', window );"><strong>State:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit', window );">Current</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit', window );">Deferred</a></td>
<td class="num">$ (120,000)<span></span>
</td>
<td class="num">$ (1,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability', window );">Adjustment to valuation allowance related to net deferred tax assets</a></td>
<td class="nump">$ 607,000<span></span>
</td>
<td class="nump">$ 1,607,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax provision (benefit)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentFederalTaxExpenseBenefit">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Paragraph Question 1-7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentFederalTaxExpenseBenefit</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentStateAndLocalTaxExpenseBenefit</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFederalIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FederalIncomeTaxExpenseBenefitContinuingOperationsAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income tax expense (benefit) from continuing operations attributable to an adjustment of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StateAndLocalIncomeTaxExpenseBenefitContinuingOperationsAbstract</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6742443488">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>INCOME TAXES (Details) - The tax effects of temporary differences of the deferred tax - USD ($)<br></strong></div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetNoncurrentClassificationAbstract', window );"><strong>Long-term deferred tax assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FederalAndStateNOLAndTaxCreditCarryforwards', window );">Federal and state NOL and tax credit carryforwards</a></td>
<td class="nump">$ 31,261,000<span></span>
</td>
<td class="nump">$ 31,864,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits', window );">Deferred compensation</a></td>
<td class="nump">6,522,000<span></span>
</td>
<td class="nump">$ 5,437,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGoodwillAndIntangibleAssets', window );">Intangibles</a></td>
<td class="nump">483,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOther', window );">Other</a></td>
<td class="nump">282,000<span></span>
</td>
<td class="nump">$ 359,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGross', window );">Subtotal</a></td>
<td class="nump">38,548,000<span></span>
</td>
<td class="nump">37,660,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Less: valuation allowance</a></td>
<td class="num">$ (38,548,000)<span></span>
</td>
<td class="num">$ (37,660,000)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNet', window );">Deferred tax asset, net</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_FederalAndStateNOLAndTaxCreditCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss and  tax carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_FederalAndStateNOLAndTaxCreditCarryforwards</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGoodwillAndIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from intangible assets including goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGoodwillAndIntangibleAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Asset<br> -URI http://asc.fasb.org/extlink&amp;oid=6510090<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetNoncurrentClassificationAbstract</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from compensation and benefits costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>instant</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6766919968">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Details) - Reconciliation of income taxes at the Federal statutory tax rate - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ReconciliationOfIncomeTaxesAtTheFederalStatutoryTaxRateAbstract', window );"><strong>Reconciliation of income taxes at the Federal statutory tax rate [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate', window );">Income tax benefit at U.S. Federal statutory income Tax rate</a></td>
<td class="num">$ (469,000)<span></span>
</td>
<td class="num">$ (3,266,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Income tax benefit at U.S. Federal statutory income Tax rate</a></td>
<td class="num">(34.00%)<span></span>
</td>
<td class="num">(34.00%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes', window );">State income taxes</a></td>
<td class="num">$ (117,000)<span></span>
</td>
<td class="num">$ (6,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes', window );">State income taxes</a></td>
<td class="num">(8.50%)<span></span>
</td>
<td class="num">(0.06%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential', window );">Permanent differences</a></td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="nump">$ 1,529,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential', window );">Permanent differences</a></td>
<td class="nump">0.10%<span></span>
</td>
<td class="nump">15.92%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther', window );">Expiring net operating losses, credits and other</a></td>
<td class="num">$ (22,000)<span></span>
</td>
<td class="nump">$ 115,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits', window );">Expiring net operating losses, credits and other</a></td>
<td class="num">(1.60%)<span></span>
</td>
<td class="nump">1.19%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses', window );">Foreign rate difference on impairment</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 21,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses', window );">Foreign rate difference on impairment</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.22%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Change in valuation allowance</a></td>
<td class="nump">$ 607,000<span></span>
</td>
<td class="nump">$ 1,607,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Change in valuation allowance</a></td>
<td class="nump">44.00%<span></span>
</td>
<td class="nump">16.73%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax provision</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Income tax provision</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to expiring net operating losses, credits and other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_IncomeTaxReconciliationExpiringNetOperatingLossesCreditsAndOther</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ReconciliationOfIncomeTaxesAtTheFederalStatutoryTaxRateAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ReconciliationOfIncomeTaxesAtTheFederalStatutoryTaxRateAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to impairment loss.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to tax credits. Including, but not limited to, research credit, foreign tax credit, investment tax credit, and other tax credits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32123-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to foreign income tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph h<br> -Subparagraph 1<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph h<br> -Subparagraph 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible impairment loss.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph h<br> -Subparagraph 1<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
